Bitcoin
traded at $107,937 as of twenty-two:22 UTC on Sunday, up 0.54% over the previous 24 hours, as consideration turned to fiscal coverage tensions in Washington following President Trump’s newest submit on Reality Social.
Value motion remained risky, with BTC fluctuating between $107,194 and $108,489 in the course of the 24-hour window, in line with CoinDesk Analysis’s technical evaluation mannequin.
On June 29, 2025, President Donald Trump posted a pointed message on Reality Social addressing Republican lawmakers amid intense debate over his sweeping tax-and-spending package deal. “For all price reducing Republicans, of which I’m one, REMEMBER, you continue to must get reelected. Don’t go too loopy! We are going to make all of it up, occasions 10, with GROWTH, greater than ever earlier than,” he wrote. This assertion underscores the deep divisions inside the GOP because it wrestles with the bold laws dubbed the “One Large Stunning Invoice.”
The invoice, exceeding 900 pages, combines roughly $3.8 trillion in tax cuts with focused spending reductions and elevated funding for protection and border safety. It seeks to make everlasting lots of the tax breaks from Trump’s 2017 Tax Cuts and Jobs Act, together with eliminating taxes on ideas, additional time pay, and sure auto loans. The kid tax credit score would rise to $2,200 underneath the Senate model, whereas deductions for seniors would enhance briefly. Nonetheless, to offset these tax cuts, Republicans suggest vital cuts to Medicaid and vitamin packages, sparking fierce debate inside the occasion.
Average Republicans from high-tax states are pushing for a better cap on state and native tax deductions (SALT), whereas conservatives demand deeper spending cuts, significantly concentrating on Medicaid. These inside disagreements complicate efforts to safe the slim Republican majorities wanted in each chambers to go the invoice, which Democrats uniformly oppose as favoring the rich and worsening inequality.
Trump’s social media message displays an try to stability these competing pressures — urging fiscal restraint to fulfill conservatives whereas emphasizing that sturdy financial development will compensate for income losses and assist scale back deficits over time. This supply-side financial strategy initiatives that development will “make all of it up” regardless of near-term will increase within the nationwide debt, which nonpartisan analysts estimate may add trillions to the present $36.2 trillion debt.
Crypto analyst Will Clemente’s response on X (previously Twitter) shortly after Trump’s submit captures a standard market sentiment: “How are you going to learn this and maintain long run US treasuries at present yields lol… Additionally, how will you learn this and never maintain any Bitcoin or gold.” Clemente’s skepticism towards long-term U.S. Treasuries displays issues that the invoice’s deficit-financed tax cuts and modest spending cuts sign a unfastened fiscal coverage that might gas inflation and foreign money debasement.
On this context, conventional fixed-income belongings like Treasuries might seem much less engaging, as rising deficits and potential financial lodging threaten bond values. Conversely, exhausting belongings akin to gold and Bitcoin are more and more seen as shops of worth and hedges towards inflation and financial threat. The expectation of sustained deficits and political challenges to fiscal self-discipline bolster demand for these inflation-resistant belongings.
With the Senate racing to finalize the invoice earlier than the July 4 vacation, Trump’s name for unity and moderation highlights the excessive stakes and political challenges in passing one of the vital consequential fiscal packages in latest U.S. historical past. The invoice’s destiny stays unsure as lawmakers negotiate to stability tax reduction, spending cuts, and political feasibility.
Technical Evaluation Highlights
- From June 28 15:00 to June 29 14:00 UTC, BTC traded from $107,194 to $108,489, a 1.21% intraday vary.
- Help was established at $107,300, with a number of rebounds in the course of the 02:00–03:00 window.
- Quantity peaked at 7,538 BTC between 08:00 and 11:00 UTC on June 29, confirming upward momentum.
- In the course of the closing session hour (13:05–14:04 UTC), BTC fell from $108,219 to $108,059, forming a descending channel.
- A 130 BTC quantity spike at 13:35 coincided with a pointy dip to $108,030, which was examined and held.
- Last intraday rally pushed value again towards $108K earlier than fading barely by 22:22 UTC to $107,937.
Disclaimer: Components of this text have been generated with the help from AI instruments and reviewed by our editorial staff to make sure accuracy and adherence to our requirements. For extra data, see CoinDesk’s full AI Coverage.