With the government reopening, the Treasury resumes spending—which implies a drop in the TGA (Transfer Rate Adjustment) and, therefore, a direct injection of dollars into bank reserves.

This movement tends to alleviate short-term stress on funding, precisely when the Fed prepares to end QT (Quantitative Transfer) in December.

In other words: less drain, more reserves circulating, and a financial system with extra breathing room for risk.

Historically, periods of liquidity replenishment after shutdowns coincide with relief in short-term rates and recovery of liquidity-sensitive assets.

And, incidentally, Bitcoin is the main one.