Sunday Rally, Will It Last?

After a challenging start to November for the markets, the Trump Administration announced on Sunday morning a plan that revived bitcoin and related assets, pushing them into positive territory once again.

The proposal involves a $2,000 payment to American citizens, excluding the wealthy, funded by the U.S. government. Treasury Secretary Bessent noted that the payment's exact form is yet undecided and might come through tax adjustments.

"What form this comes in remains to be seen, as Treasury Secretary Bessent has commented that the payment form has not been determined yet, and could be seen in taxes possibly."

This proposed stimulus recall the relief seen in spring 2020, correlating with bitcoin's strong performance—it has risen above $105,000 at the time of reporting. Funding rates on perpetual contracts have exceeded 10% annualized, while front-month futures maintain a modest contango.

The White House announcements on Sundays have generally favored markets, contrasting with volatility caused by Friday afternoon tweets about tariffs or other issues. However, a few more positive trading days are necessary to regain substantial market momentum.

Ethereum has outperformed bitcoin on this day, gaining more than 5% and surpassing the $3,500 mark.

Summary

The Trump Administration’s announcement of a potential $2,000 stimulus payment sparked a market rally, boosting bitcoin and Ethereum prices, though the payment method remains uncertain.

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24/7 Wall St. — 2025-11-10

Sunday Rally, Will It Last?

Summary

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