Bitcoin's Big Day: What's Driving the Crypto Surge?

Bitcoin is making waves, climbing towards a crucial $106, 000 mark. What's behind this push? A few things are at play. First, President Trump hinted at a $2, 000 payout for low-income Americans, sparking hopes of a crypto-friendly stimulus. However, Treasury Secretary Scott Bessent tempered expectations, suggesting tax cuts might be the route instead of direct checks. Meanwhile, the U. S. Senate took a step to end a long government shutdown, which had been holding back key economic data. But the real test is whether Congress can keep this momentum going. On top of that, financial conditions are looking up. The banking sector is stabilizing, and the dollar's rally has hit a pause. These factors together might just help bitcoin break through that $106, 000-$107, 000 resistance zone. If it does, we could see a revival in demand for spot ETFs, which have seen some outflows lately. But if bitcoin can't push past this resistance, things might take a turn for the worse, leading to a deeper sell-off. Altcoins are also in the mix. XRP is getting attention with five spot ETFs tied to it appearing on the DTCC list, raising hopes for approval. Privacy coins like ZEC are shining too, with ZEC bouncing back from a recent drop. In traditional markets, things are looking up as well, with futures tied to the S&P 500 signaling a risk-on mood.