House Passes Short-Term Funding; Crypto Sells Off, Bitcoin Hits Pre-Election Lows
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House Passes Short-Term Funding; Crypto Sells Off, Bitcoin Hits Pre-Election Lows



The House narrowly passed a short-term funding package Tuesday in a 217-214 vote, setting the stage for the government to reopen once President Donald Trump signs the bills. Lawmakers still need to hammer out funding for the Department of Homeland Security over the next week and a half, but other major departments will be kept running for the time being.

The news quickly arrested a panic-driven selloff in crypto markets. Bitcoin tumbled from roughly $78,937 to as low as $72,800—its weakest level since before Trump’s November 2024 election victory—before recovering to about $74,800, leaving it down roughly 4.5% over 24 hours. Ether slipped to around $2,181, off about 7% on the day and roughly 26% over the past week. Other large caps, including XRP ($1.63) and Solana ($104.79), posted similar declines.

U.S. equities also pared some losses from their intraday lows but remained notably lower: the Nasdaq was down about 2% and the S&P 500 about 1.3%, underscoring how political uncertainty continues to ripple through both traditional and crypto markets.

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