Cryptocurrency markets opened the holiday-shortened trading session with modest gains, as Bitcoin climbed above $109,000 and Ethereum approached $2,600, buoyed by broader risk asset optimism following the passage of U.S. President Donald Trump’s massive tax and spending bill and surprisingly strong U.S. employment data.

Bitcoin traded at $109,275, up 0.61% in the past 24 hours, while Ethereum gained 0.48% to $2,584. The global cryptocurrency market capitalization reached $3.37 trillion, marking a 0.38% increase as digital assets tracked traditional markets higher, per Coinmarketcap data.

Tax Bill Passage Fuels Growth Optimism

The Republican-controlled House of Representatives approved Trump’s “One Big Beautiful Bill” on Thursday…