Trump Stimulus Fuels Crypto Rally: BTC Hits $106K

Crypto Market Roars: A Deep Dive into Today's Surge

The cryptocurrency market is currently experiencing a significant upturn, with its total market capitalization jumping by nearly 5% within the last 24 hours, now exceeding $3.58 trillion. This remarkable surge has propelled major cryptocurrencies to impressive levels, as Bitcoin (BTC) has confidently surpassed the $106,000 mark, Ethereum (ETH) has climbed past $3,600, and XRP has recorded gains exceeding 8%. This widespread rally across the digital asset landscape has ignited discussions among investors and analysts alike regarding the underlying drivers and the potential sustainability of this upward momentum.

A primary catalyst for this vigorous market performance appears to be a recent announcement from President Trump regarding proposed stimulus checks. The proposition of $2,000 cash payments to most American citizens, to be funded through tariff revenues, has resonated deeply within the crypto community. Many market participants vividly recall the transformative impact of the COVID-19 stimulus checks on cryptocurrency valuations, which saw digital assets experience unprecedented growth. The expectation is that this new round of financial injection will similarly channel capital into the crypto market, driving prices higher. Social media platforms, particularly X (formerly Twitter), are abuzz with positive sentiment, with many referring to the prospective $2,000 payment as "free money for Bitcoin," underscoring the optimistic outlook.

Political Stability and Institutional Inflows Bolster Confidence

Beyond the stimulus prospect, another significant factor contributing to the market's bullish sentiment is the recent progress in resolving the protracted government shutdown. The Senate's advancement of a bill aimed at ending this political impasse has been met with relief by the crypto sector. A stable political environment implies that regulatory bodies, notably the Securities and Exchange Commission (SEC), can resume normal operations and potentially accelerate the approval process for long-awaited crypto Exchange Traded Funds (ETFs). The expectation of quicker ETF approvals is a potent driver for market confidence, as it signifies greater mainstream acceptance and accessibility for institutional investors.

Indeed, institutional money is already making a strong comeback into the crypto space. Recent data indicates a substantial inflow of $170 billion into Bitcoin and Ethereum ETFs, highlighting a growing appetite among large-scale investors for regulated crypto products. This institutional engagement is crucial for the market's maturation and stability, as it brings significant capital and enhances overall liquidity. Technical indicators also support the positive outlook, with the overall market breaking above key moving averages and moving out of the oversold territory, suggesting a healthy upward trend.

the last time we had a massive stimulus of this nature from the United States government was in 2020, during COVID

shortly after, crypto had an aggressive and sustained melt-up that resulted in new ATHs for $BTC, $ETH, and other majors at the time

– BTC went parabolic and… https://t.co/iKnPLvUijY pic.twitter.com/4YMqfUG9Be

— Unipcs (aka 'Bonk Guy') (@theunipcs) November 9, 2025

Altcoins Shine Amidst Bitcoin's Ascent

While Bitcoin's rally to above $106,000 provides a strong foundation, altcoins are demonstrating even more pronounced gains, a common pattern when BTC stabilizes after a significant move. This environment often signals increased risk appetite among investors, leading them to seek higher returns in alternative cryptocurrencies.

• XRP ($2.48, +8.62%): This cryptocurrency continues its strong performance, fueled by persistent rumors of new ETF filings and its growing utility in facilitating faster global payments.
• Zcash ($664.54, +15.46%): Zcash stands out as the biggest gainer among the profiled assets, reflecting a renewed interest in privacy-centric coins. The "privacy-meta" trend suggests investors are increasingly prioritizing anonymity in their digital transactions.
• Ethereum ($3,600, +5.46%): As the leading altcoin, Ethereum continues to benefit from the expansion of its ETF ecosystem, with assets under management in Ethereum ETFs already reaching $20.35 billion, showcasing robust institutional adoption.
• Solana ($166.95, +4.92%) and Chainlink ($16.32, +6.61%): Both Solana and Chainlink are exhibiting remarkable chart strength, indicating solid technical foundations and sustained buying pressure. Their underlying technologies and ecosystem developments continue to attract investor attention.
• Hyperliquid ($42.53, +6.03%): Hyperliquid demonstrates consistent performance even in volatile market conditions, suggesting a resilient project with a dedicated user base.

Japan's Regulatory Landscape Evolves for Digital Assets

In parallel with global market movements, significant regulatory developments are unfolding in Japan, a key player in the Asian crypto market. The Financial Services Agency (FSA) is actively drafting new regulations that will mandate digital asset custodians and trading management service providers to register with authorities. This move aims to enhance oversight and secure user deposits more effectively, particularly for third-party custodians who previously operated with less scrutiny. The proposed framework is a direct response to incidents like the 2024 DMM Bitcoin hack, which resulted in a substantial loss of $312 million, underscoring the urgent need for robust regulatory measures.

These impending changes, potentially taking effect through amendments to the Financial Instruments and Exchange Act in 2026, signify a concerted effort by Japan to create a safer and more transparent digital asset ecosystem. Furthermore, the FSA is also broadening its stablecoin initiatives, having already approved the yen-pegged JPYC and backing a pilot program involving Japan's three largest banks. These steps collectively signal a proactive approach to integrating digital assets into the mainstream financial system while mitigating associated risks.

Market Outlook: Cautious Optimism Ahead

With the potential for hundreds of billions in fresh stimulus money entering the economy and a clearer regulatory path for crypto ETFs, the market appears poised for further gains. Analysts suggest that if Bitcoin can firmly hold the $106,000 support level, the next target could realistically be $110,000 or even higher. However, investors are advised to proceed with caution, as the market, despite its bullish indicators, remains inherently volatile. Traders are gradually reintroducing leverage, a sign of increasing confidence but also a reminder of potential rapid price swings. The convergence of macroeconomic factors, technological advancements, and evolving regulatory frameworks continues to shape a dynamic and exciting future for the cryptocurrency market.

The post [LIVE] Crypto News Today, November 10 – Why Is Crypto Up Today? Trump Stimulus Checks Push BTC Above $106K, XRP Price +8%: Best Crypto to Buy Now? appeared first on 99Bitcoins.