Gate Daily (November 10): Trump distributes $2000 to boost Bitcoin; Senate secures enough votes to end government shutdown

Bitcoin (BTC) ended last week’s sluggish trend, currently around $106,400 as of November 10. Donald Trump announced the possibility of distributing a $2,000 tariff “bonus,” which analysts warn could have long-term negative effects on the US dollar, thereby potentially benefiting Bitcoin. Sources say the Senate has secured enough Democratic support to pass a bill to end the government shutdown.

Macro Events & Crypto Hotspots

1. U.S. President Donald Trump announced on November 9 that most Americans will receive a $2,000 “bonus” from tariff revenues, which are currently under legal review by the Supreme Court. Trump insists the executive branch has the authority to impose tariffs on other countries and emphasizes that debt repayment of up to $37 trillion will begin soon. Some market analysts believe this move is bullish for cryptocurrencies, as economic stimulus and capital injections often flow into asset markets, but others warn that payments could have long-term negative impacts on the dollar and consumer purchasing power.

2. Sources indicate that at least 8 Democratic senators support passing a negotiated agreement to end the government shutdown, ensuring enough Democratic votes to pass the bill.

3. Robert Kiyosaki, author of “Rich Dad Poor Dad,” is doubling down on hard assets, stating that even as the market prepares for a potential crash, he will continue buying gold, silver, Bitcoin, and Ethereum. On November 9, Kiyosaki shared a post on X warning of an impending recession but said he is preparing by accumulating what he calls “real gold and silver.” “The crash is coming: why I am buying instead of selling,” he wrote, setting ambitious targets: gold at $27,000, silver at $100, Bitcoin at $250,000 by 2026.

( News Highlights

1. Sources: The Senate has secured enough Democratic support to pass a bill to end the government shutdown.

2. Analysis: Currently, 5 spot XRP ETFs are listed on the DTCC website, expected to launch officially this month.

3. Insider: Tether-backed Rumble and Northern Data are close to reaching a merger agreement.

4. Financial Times: Ledger is considering an IPO or fundraising in New York.

5. U.S. CFTC Acting Chair confirms plans to promote leveraged spot cryptocurrency trading on regulated exchanges.

6. U.S. CFTC may allow stablecoins as acceptable tokenized collateral, with policies possibly announced early next year.

7. Michael Saylor has issued another tracker message, likely to reveal Bitcoin holdings data this week.

8. Data: Tokens such as LINEA, APT, AVAX will experience large unlocks this week, with LINEA’s unlock valued at approximately $34.4 million.

) Market Trends

1. Latest Bitcoin news: ### ended last week’s downturn, currently around $106,400, with $114 million liquidated in the past 24 hours, mainly short positions.

2. The U.S. Senate is accelerating bipartisan negotiations to end the record-long government shutdown. Senate Majority Leader Schumer said a vote could happen as early as November 10, but warned negotiations may still face hurdles. Schumer plans a tentative vote on a smaller spending bill on Sunday, but Democratic support remains uncertain. Motivated by the potential end of the federal shutdown, US stock index futures rose in early Asian trading. S&P 500 and Nasdaq 100 futures both increased by over 0.5%.

![Bitcoin Liquidation Map]###https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-f9529957f0-153d09-cd5cc0.webp$BTC

(Source: Gate)

3. According to Gate’s BTC/USDT liquidation map, with the current price at $106,330.80, if the price drops to around $100,694, total long liquidation exceeds $31.7 billion; if it rises to around $111,910, short liquidation exceeds $2.17 billion. Short positions have significantly lower liquidation amounts than longs, so traders are advised to control leverage ratios to avoid large-scale liquidations during market swings.

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflow was $426 million, outflow $291 million, net outflow $165 million.

(Source: Coinglass)

5. Over the past 24 hours, contracts for $ETH, $BTC, $SOL, $ZEC, and others experienced net outflows, presenting trading opportunities.

( KOL Insights

Phyrex Ni (@Phyrex_Ni): “Sunday’s activity remains straightforward. The biggest news today is Trump preparing to distribute $2,000 ‘bonuses’ to Americans except high earners. This news spread on Twitter and boosted the crypto market, similar to the massive stimulus in 2021. But whether Trump can actually deliver this $2,000 remains uncertain.”

“The $2,000 is based on tariffs, and the likelihood of the Supreme Court overturning tariff policies is high. According to Kalshi’s forecast data, only a 23% chance tariffs will pass. If tariffs do not pass and Trump has no better tariff plan, not only will the money not be distributed, but some funds may be returned. Besides the payout, the market is most focused on the government shutdown, which has now lasted 40 days. Although the Senate scheduled a meeting on Sunday, no resolution is in sight yet. The Senate Republican caucus will meet at 1:30 AM Beijing time, but no voting schedule has been set. The divide between parties remains significant.”

“Despite no clear end in sight, there are signs that both parties are making efforts to end the shutdown, and the market has a somewhat positive outlook. However, predictions for the shutdown’s end are extending; now over 48 days, with expectations that it may not end until the week before Thanksgiving.”

“Looking at Bitcoin data, Sunday saw a significant decrease in turnover, indicating that retail investor sentiment has recovered substantially, and panic has eased. Trump’s payout news may have turned many uninformed investors optimistic. The opening of US stock futures tomorrow morning will reveal the market’s reaction. Although the shutdown is ongoing, signs of a resolution are emerging. Hopefully, next week won’t be too difficult. Yesterday, I mentioned that although BTC’s price broke below support, the support level did not collapse, and there are no signs of large-scale capitulation among investors. Many investors’ positions remain stable, and BTC’s price is gradually approaching support levels.”

) Today’s Outlook

1. China’s M2 money supply growth rate at the end of October: previous value 8.4%.