What’s Happening:
- Bitcoin (BTC) has seen a 0.54% uplift, reaching $107,937.
- Trump recently urged GOP lawmakers to prioritize growth over deficit fears, a sentiment applauded by analysts, including Will Clemente.
- The recent technical movements indicated BTC is recovering from a low of approximately $107,300 towards the $108K mark.
BTC price bounce
BTC bounced off support and neared $108K by 22:22 UTC June 29, 2025.
On June 29, 2025, Trump commented on social media urging fiscal restraint while emphasizing the potential for significant revenue increase from growth. His message, intending to unite factions within the GOP amidst unresolved debates on a substantial tax-and-spending bill, underscores the divisions within the party, notably regarding tax cuts for wealthier Americans versus cuts to essential services.
Market Response:
Analyst Will Clemente highlighted the implications of Trump’s fiscal stance, stating that holding long-term U.S. Treasuries may not be advisable. His commentary reflects widespread sentiment in the market juxtaposing Bitcoin and gold as attractive alternatives against potential inflation and fiscal risks.
Key Points:
- Traditional bonds are facing pressure due to rising deficits and anticipated monetary policy changes.
- As U.S. lawmakers finalize their fiscal strategy before upcoming holidays, the resolution remains complex, and Bitcoin is perceived as a stable asset amidst uncertainty.
