Bitcoin’s (BTC) price went up after Trump told GOP not to worry about lack of spending

Bitcoin

It was exchanged for $ 107,937 to 22:22 UTC on Sunday, up to 0.54% over the past 24 hours, as the attention turned to the tensions of the fiscal policy in Washington following President Trump’s latest post in society.

The price action remained volatile, with BTC fluctuations between $ 107,194 and $ 108,489 during the 24-hour window, according to the CoinDesk Research’s technical review model.

On June 29, 2025, President Donald Trump Na -Post A sharp message to the fact that responds to Republican lawmakers amid a strong debate about his tax repair-and spending. “For all the costs of cutting Republicans, where I am one, remember, you still have to be reelectable. Don’t be too crazy! We will do it all, 10 times, with growth, more than ever,” he wrote. This statement emphasizes deep divisions within the GOP as it argues with the ambitious law called “a great good bill.”

The bill, which exceeds 900 pages, combines nearly $ 3.8 trillion with tax cuts with target cuts on spending and increasing funds for defense and border security. It aims to make permanent many tax breaks from the 2017 Tax Cuts and Jobs Act, including the removal of taxes on tips, overtime pay, and some auto loans. Child tax credit will increase to $ 2,200 under the Senate version, while deductions for seniors will increase temporarily. However, in order to offset these tax cuts, Republicans suggest significant reductions in Medicaid and nutrition programs, which sparks the fierce debate within the party.

Medium Republicans from high -taxed states are pushing for a higher state cover and local tax deduction (Salt)While conservatives demand a deeper spending of spending, especially targeting Medicaid. These internal disagreements complicated efforts to secure the narrow Republican majorities needed in the same room to pass the bill, with the democrats equally opposed to in favor of the rich and worsening inequality.

Trump’s social media message reflects an attempt to balance these competing pressures – preventing fiscal restraints to satisfy conservatives while emphasizing that stable economic growth will pay for income losses and help reduce shortages over time. These economic procedure projects whose growth will “do everything” despite the closely increased national debt, with the estimation of nonpartisan analysts that can add trillions to the existing $ 36.2 trillion debt.

Crypto analyst Will Clemente’s reaction to x (dating twitter) Shortly after Trump’s post gets a common sentiment in the market: “How can you read it and handle the long US wealth in the current produce lol … Also, how can you read it and not touch any bitcoin or gold.” Clemente’s skepticism towards the US’s long-term wealth reflects concerns that tax cuts funded by the bill and moderate expenditure have signed a loose fiscal policy that can pose inflation and money debasement.

In this context, traditional income properties such as Treasury may appear less attractive, as increasing deficiencies and potential dwellings threaten bond values. On the contrary, hard assets such as gold and bitcoin are increasingly viewed as stores of value and fences against inflation and fiscal risk. The hope of prolonged deficiencies and political challenges in fiscal bolster discipline demanded for inflation-resistant properties.

In the Senate career to end the bill before the July 4 holiday, Trump’s call for unity and moderation features high stakes and political challenges in passing one of the most fruits of the fiscal package in recent US history. The fate of the bill remains uncertain as lawmakers are working to balance tax relief, spending cuts, and political feasibility.

Technical assessments

• From June 28 15:00 to June 29 14:00 UTC, BTC exchanged from $ 107,194 to $ 108,489, a 1.21% intraday range.
• The support was established at $ 107,300, with many rebounds during 02: 00–03: 00 window.
• The volume that sank 7,538 BTC between 08pm and 11:00 UTC on June 29, confirming the upward momentum.
• In the last hour of the session (13: 05–14: 04 UTC)BTC fell from $ 108,219 to $ 108,059, forming a downward channel.
• A 130 BTC volume spike at 13:35 in conjunction with a sharp sink to $ 108,030, tested and held.
• The final intraday rally pushed the price back to $ 108k before fading slightly at 22:22 UTC up to $ 107,937.

Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.