Bitcoin
Sunday at $ 107,937 at 10:22 PM UTC, up 0.54% in the last 24 hours, while attention turned to budgetary policy tensions in Washington after President Trump’s last article on Truth Social.
Price action remained volatile, the BTC fluctuating between $ 107,194 and $ 108,489 during the 24 Hours window, depending on the Technical Analysis model of Coindesk Research.
On June 29, 2025, President Donald Trump published a sharp message on the social truth addressed to the Republican legislators in the midst of an intense debate on his tax package and radical expenses. “For all the Cup costs of the Republicans, of which I am one, remember, you must always be re-elected. Do not go too crazy! We will invent everything, Times 10, with growth, more than ever,” he wrote. This declaration underlines the deep divisions within the GOP while it fights with ambitious legislation nicknamed “One Big Beautiful Bill”.
The invoice, exceeding 900 pages, combines approximately 3.8 billions of dollars in tax discounts with targeted expense reductions and an increase in funding for defense and security of border. He seeks to do most of the tax alleviations of the Trump 2017 Trump tax reductions and jobs, in particular by eliminating taxes on advice, overtime and certain car loans. The children’s tax credit would increase to $ 2,200 as part of the Senate version, while deductions for the elderly would temporarily increase. However, to compensate for these tax reductions, the Republicans offer important reductions for Medicaid and nutrition programs, arousing fierce debate within the party.
Moderate republicans of high tax states put pressure for a higher ceiling on state and local tax deductions (SALT)While the conservatives require deeper discounts of expenditure, targeting in particular Medicaid. These internal disagreements complicate efforts to guarantee the close republican majorities necessary in the two chambers to adopt the bill, which Democrats oppose uniformly as promoting the rich and the worsening of inequalities.
Trump’s social media message reflects an attempt to balance these competing pressures – urging budgetary restraint to satisfy conservatives while stressing that robust economic growth will compensate for income loss and will help reduce deficits over time. This economic approach to the offer provides that growth “will increase everything” despite the short -term increase in national debt, which non -partisan analysts consider could add billions of billions to existing debt of $ 36.2 billions of dollars.
The crypto analyst will be the reaction of Clement on x (formerly Twitter) Shortly after, Trump’s post captures a common feeling on the market: “How can you read this and hold the long-term American treasury bills to current yields lol … too, how can you read this and not hold bitcoin or gold.” Clemente skepticism towards long -term US Treasury bills reflects concerns that the tax cuts funded by the bill of the bill and reductions in modest expenditure reports a loose budgetary policy that could feed the inflation and the discharge of currencies.
In this context, traditional fixed income assets such as treasury bills may seem less attractive, because the increase in potential monetary deficits and housing threaten the values of obligations. Conversely, hard assets such as gold and bitcoin are increasingly considered as reserves of value and hedges against inflation and budgetary risk. The expectation of supported deficits and political challenges to tax discipline strengthens the demand for these inflation -resistant assets.
With the Senate races to finalize the bill before the holidays of July 4, Trump’s call to the unit and moderation highlights the high issues and political challenges through one of the most consecutive tax packages in the history of the recent United States. The fate of the bill remains uncertain while the legislators negotiate to balance tax reductions, spending reductions and political feasibility.
Strengths of technical analysis
- From June 28 3 p.m. to June 29 2 p.m. UTC, the BTC was negotiated from $ 107,194 to $ 108,489, an intraday range of 1.21%.
- The support was established at $ 107,300, with several rebounds during the 02: 00 to 03: 00 window.
- The volume culminated at 7,538 BTC between 08:00 and 11:00 UTC on June 29, confirming the momentum up.
- During the last hour of session (13: 05–14: 04 UTC)BTC went from $ 108,219 to $ 108,059, forming a downhill channel.
- A volume peak of 130 BTC at 13:35 coincided with a net drop at $ 108,030, which was tested and maintained.
- The final intraday rally pushed the price to $ 108,000 before disappearing slightly from 22:22 UTC to $ 107,937.
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