Bitcoin Price Up After Trump's Fiscal Policy Comments
Bitcoin Price Sees Slight Gain After Trump's Comments
Bitcoin (BTC) experienced a modest price increase, trading at $107,937 as of 22:22 UTC on Sunday, representing a 0.54% rise in the past 24 hours. This movement followed President Trump's recent post on Truth Social addressing fiscal policy tensions in Washington.
Price volatility remained, with BTC fluctuating between $107,194 and $108,489 over the 24-hour period, according to CoinDesk Research's technical analysis.
Trump's Truth Social Post and the "One Big Beautiful Bill"
On June 29, 2025, President Trump posted a message on Truth Social concerning Republican lawmakers and his proposed tax-and-spending package, known as the "One Big Beautiful Bill." This over 900-page bill includes approximately $3.8 trillion in tax cuts alongside spending reductions and increased funding for defense and border security.
The bill aims to make permanent many tax breaks from the 2017 Tax Cuts and Jobs Act, while also increasing the child tax credit and deductions for seniors. However, proposed cuts to Medicaid and nutrition programs are causing significant internal debate within the GOP.
Market Reaction and Analyst Sentiment
Crypto analyst Will Clemente expressed his view on X (formerly Twitter), stating concerns about holding long-term US Treasuries given the proposed fiscal plan. He suggested that Bitcoin and gold might be preferable investments under these circumstances.
This sentiment reflects a broader market concern: deficit-financed tax cuts and potential monetary accommodation could fuel inflation and currency debasement, making traditional fixed-income assets less attractive. Investors are increasingly turning to hard assets like gold and Bitcoin as inflation hedges.
Technical Analysis Summary
- Intraday range (June 28 15:00 to June 29 14:00 UTC): $107,194 to $108,489 (1.21%)
- Support level established at: $107,300
- Peak volume: 7,538 BTC (June 29, 08:00–11:00 UTC)
- Final session (13:05–14:04 UTC): Descending channel formation
- Final price at 22:22 UTC: $107,937
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Consult with a financial professional before making investment decisions.
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