Bitcoin
Traded for $ 107,937 per 22:22 UTC Sunday, an increase of 0.54% over the last 24 hours as attention turned to fiscal tensions in Washington after President Trump’s latest post on truth social.
Price action remained unstable, with BTC fluctuating between $ 107,194 and $ 108,489 during the 24-hour window, according to Coindesk Research’s technical analysis model.
On June 29, 2025, President Donald Trump published a pointed message about truth’s social addressing of Republican lawmakers in the midst of intense debate over his sweeping tax and expenses. “For all costs that cut Republicans, as I am one, remember that you still have to be re -elected. Don’t go too crazy! We will make it all up, times 10, with growth, more than ever before,” he wrote. This statement emphasizes the deep divisions within the GOP as it struggles with the ambitious legislation called the “a big beautiful bill.”
The bill exceeding 900 pages combines approx. $ 3.8 trillion in tax cuts with targeted spending reductions and increased funding for defense and border security. It seeks to make regular many tax breaks from Trump’s Tax Celebrations Act in 2017 and jobs, including removing taxes on tips, overtime pay and certain auto loans. Child tax credit would rise to $ 2,200 during the Senate version, while deductions for seniors would rise temporarily. However, to offset these tax cuts, Republicans propose significant cuts in Medicaid and Nutrition Programs, triggering tough debate within the party.
Moderate Republicans from High Tax States press for a higher cap on state and local tax deduction (SALT)While conservatives require cuts in deeper expenses, especially targeted at Medicaid. These internal discrepancies complicate the efforts to secure the narrow Republican majorities needed in both chambers to adopt the bill that Democrats uniformly oppose like favoring the wealthy and worsening inequality.
Trump’s Social Media message reflects an attempt to balance these competing pressure – calls for fiscal restraint to satisfy conservative, while emphasizing that robust economic growth will compensate for loss of income and help reduce deficits over time. This economic approach to the supply site is projecting that growth “is doing it all up” despite the short-term increases in the national debt, which non-Partisan analysts assess can add trillion to the existing $ 36.2 trillion debt.
Crypto -Inalysts will clement’s reaction to x (formerly twitter) Shortly after Trump’s Post captures a common market atmosphere: “How can you read this and keep long -term US treasuries on current yields lol … also how can you read this and not keep any bitcoin or gold.” Clement’s skepticism towards long -term US treasuries reflects concern that the bill’s deficit -funded tax cuts and modest expenses signal a loose fiscal policy that can burn inflation and currency outbreaks.
In this context, traditional assets in fixed income as treasuries may seem less attractive as increasing deficits and potential monetary accommodation threaten bond values. Conversely, harsh assets such as gold and bitcoin are increasingly considered the value of value and hedges against inflation and fiscal risk. The expectation of sustained deficits and political challenges for fiscal discipline strengthens the demand for these inflation -resistant assets.
With the Senate that is racing to end the bill before the 4th of July holiday, Trump’s call for unity and moderation highlights the high efforts and political challenges of passing on one of the most consequences of fiscal packages in recent US history. The fate of the bill remains uncertain as legislators negotiate to balance tax cuts, expenses for cuts and political feasibility.
Technical analysis highlights
- From June 28, 15:00 to 29 June 14:00 UTC traded BTC from $ 107,194 to $ 108,489, a 1.21% intraday interval.
- Support was set up for $ 107,300 with several rebounds under window 02: 00–03: 00.
- Volume peaked at 7,538 BTC between 08:00 and 11:00 on June 29, which confirmed upward momentum.
- During the last session time (13: 05–14: 04 UTC)BTC fell from $ 108,219 to $ 108,059 and formed a falling channel.
- A 130 BTC volume tip at. 13:35 coincided with a sharp dip for $ 108,030, which was tested and held.
- Finally Intraday -Rally pushed the price back against $ 108k before it faded slightly with 22:22 UTC for $ 107,937.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
