Crypto prices today (Nov. 13): BTC, ETH, XRP eye recovery as Trump signs temporary budget
Crypto markets show signs of stabilization following the end of the 43-day U.S. government shutdown as President Trump signed a temporary budget. Liquidity and institutional flows were disrupted during the shutdown, delaying key economic data and amplifying market uncertainty. While Bitcoin's price dropped 1.4% and Ethereum rose 0.5%, overall market sentiment remains cautious with extreme fear dominating, indicated by a low fear and greed index. Short-term relief is expected, but persistent inflation and macroeconomic challenges may continue to pressure the crypto market. Institutional risk appetite remains low, and bearish sentiment is prevalent, with open interest still significantly below recent highs. Analysts anticipate short-term volatility to persist, despite potential long-term gains from pro-crypto regulations and economic stability.
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Stabilization Signs in Crypto Markets
Crypto prices today are showing early signs of stabilization as the prolonged U.S. government shutdown comes to an end. The crypto market may recover after the 43-day U.S. government shutdown ended, though extreme fear still dominates sentiment. Liquidity and institutional flows were heavily impacted during the shutdown. While the temporary budget may ease near-term pressures, persistent inflation could continue to create challenges for crypto markets.
Performance of Major Cryptocurrencies
The total crypto market capitalization has fallen 0.6% over the past 24 hours, although it is now edging higher. At press time:
- Bitcoin declined 1.4% to $101,843
- Ethereum rose 0.5% to $3,465
- XRP gained 2.8% to $2.46
- Solana fell 0.7% to $153
Investor sentiment remains cautious. The Crypto Fear & Greed Index dropped nine points to 15, its lowest level since April. CoinGlass data shows:
- 24-hour liquidations rose 26% to $569 million
- Total open interest decreased 0.6% to $142 billion
With an average Relative Strength Index (RSI) of 45, there is potential for market consolidation before a significant move.
Temporary Relief from the U.S. Shutdown
On Nov. 12, the 43-day U.S. government shutdown came to an end after President Trump signed a temporary budget. The bill, approved by the House earlier that day, reopened federal agencies and resumed the flow of economic data. This reduction in uncertainty may provide short-term stability to the markets.
However, the shutdown caused significant disruptions:
- Treasury repo rates surged 18–22 basis points as banks hoarded cash.
- Federal agencies' closures led to delayed economic data reports like CPI, PPI, retail sales, and nonfarm payrolls.
- The Federal Reserve adopted a “data-dependent” stance due to the lack of economic indicators.
Markets reduced the December rate cut odds from 92% to 58% over a few weeks. Meanwhile, Bitcoin’s 30-day realized volatility spiked to 78%, its highest level since the FTX collapse, increasing the market's sensitivity to headlines.
Institutional and Macro Challenges
Institutional flows also stalled during the shutdown:
- ETF approvals were delayed due to SEC staff furloughs.
- Risk appetite decreased sharply as stock market performance wavered.
- The correlation between cryptocurrency and the Nasdaq increased to 0.88, prompting institutions to reduce exposure.
Even though the shutdown has ended, macro pressures continue to weigh on the market. Liquidity shortages and declining interest in sectors like tokenization and real-world assets are limiting momentum. While stablecoins have held steady, AI and meme tokens experienced sharp declines.
Outlook: Temporary Relief, Long-Term Uncertainty
Bearish sentiment persists, with open interest remaining 20% below recent highs. The temporary budget, effective until Jan. 30, 2026, provides only a short-term solution. Analysts suggest that long-term initiatives and pro-crypto legislation could help improve market confidence, but short-term volatility is likely to continue.
Other pressing market events include predictions, such as a potential Bitcoin price breakout reaching $200K. These speculations hinge on broader macro trends and market sentiment remaining anchored in uncertainty.