The House of Representatives very narrowly passed a funding package on Tuesday with a 217-214 vote, meaning the government will reopen from its partial shutdown as soon as President Donald Trump signs the bills. Lawmakers will negotiate further funding for the Department of Homeland Security over the next week and a half, but other major departments will be funded.
The news — for the moment, at least — has h
At $74,800, bitcoin is still down 4.5% over the past 24 hours. Ether (ETH) at $2,181 is down 7% over that same time frame and 26% over the past week. Other majors like XRP (XRP) and solana (SOL) are seeing similar declines.
U.S. stocks have bounced from their worst levels of the day as well, but remain sharply lower, with the Nasdaq now down 2% and S&P 500 1.3%.
Negative funding rates, rising open interest and liquidations point to crowded positioning and heightened derivatives activity.
What to know:
- Perpetual funding rates dropped to -6%, matching the most negative level in three months, signaling aggressive short positioning as bitcoin briefly fell to $63,000.
- Coin margined open interest climbed to 687,000 BTC, indicating increased participation despite the price swing.
alted a panic-stricken plunge in crypto prices on Tuesday, which saw bitcoin BTC$64,089.48 fall to as low as $72,800, its weakest level since before Trump’s election victory in November 2024.