Bitcoin price jumps 4.4% as Trump promises $2,000 stimulus checks

The price of Bitcoin jumped 4.4% in the past 24 hours to trade at $106,507 as of 2:57 a.m. EST on trading volume that soared to $68.4 billion.

BTC reclaimed a level above $106,000 for the first time in almost a week as the US Senate hit an all-time high. agreement ending the 40-day government shutdown, the longest in U.S. history.

🚨🇺🇸 BREAKING: 40 DAY HUT ABOUT TO END? SENA SEALS AGREEMENT

The bipartisan Senate team just struck a deal to restart the government, funding it through January 30 and preparing for a December vote on that ACA bill everyone is fighting for.

Enough Democrats are on board to… pic.twitter.com/zU2M6eeyho

– Mario Nawfal (@MarioNawfal) November 10, 2025

As a result, the cryptocurrency market grew by 4% to reach a market capitalization of $3.68 trillion.

Meanwhile, in a series of posts on Truth Social on Sunday, President Trump said his administration plans to give at least $2,000 to Americans as part of a giant stimulus package that he said would be financed by revenue from tariffs.

He presents it as a reward for what he describes as the nation’s economic strength under his leadership.

The payments will go to all Americans who are not “high income.”

“We are taking in billions of dollars and will soon begin paying off our enormous debt,” Trump wrote. “A dividend of at least $2,000 per person (not including high-income earners!) will be paid to everyone. »

Can giveaways help Bitcoin price continue to recover?

Bitcoin price rebounds from support and observes key resistance levels

THE BTC Price recovered after a sustained downward trend until the end of October.

After testing a strong support zone near the $100,000-$101,000 range, the bulls regained momentum, pushing Bitcoin back above short-term resistance at around $105,000.

This renewed buying pressure has placed BTC in a potential near-term bullish phase as it trades above its 50-day simple moving average (SMA) and targets the next key resistance zone near $110,000 on a 4-hour time frame. The current rise shows that the Bitcoin price is experiencing positive momentum.

On the 4-hour chart, BTC price is currently attempting to re-enter a previously broken consolidation zone between $105,000 and $107,000.

A sustained close above this level could open the door to a retest of the 200-period SMA at around $109,960. This area has served as a major supply zone in the past, suggesting that a successful breakout could initiate a stronger shift towards bullish conditions in the medium term.

Meanwhile, the Relative Strength Index (RSI) is rising, currently at 67, just below the overbought threshold of 70, indicating that Bitcoin price is seeing strong buying momentum.

The Moving Average Convergence Divergence (MACD) also supports an uptrend, with the blue MACD line crossing above the orange signal line and the histogram extending towards positive values.

This crossover confirms improving market dynamics and supports the idea that Bitcoin will rise.

BTC bulls aim for a push towards $110,000

If BTC price remains above the 50-day SMA ($104,149) over a 4-hour time frame, the short-term trend will likely remain bullish. The next target for the bulls is at the $109,000-$110,000 resistance zone, which aligns with the 200-day SMA.

The Chaikin Money Flow (CMF) which stands at +0.35 therefore supports the sentiment, indicating solid capital inflows into the market. This confirms that accumulation is underway, with buyers actively supporting Bitcoin’s recent rebound, and could allow bulls to propel the price even higher.

Conversely, failing to sustain the price above $104,000 could trigger a short-term pullback towards $101,000. Below 100,980, the next possible support for Bitcoin price lies at the $93,400 level, according to popular X analyst Ali Martinez.

Below $100,980 the next key support zone for Bitcoin $BTC is around $93,400. pic.twitter.com/vX4IBWJsJf

– Ali (@ali_charts) November 10, 2025

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