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2025-07-03
22:31
Bitcoin (BTC) Holds $107k Support as Trump's Fiscal Policy Sparks Inflation Fears, Crypto Tax Hopes Dashed

According to @KobeissiLetter, Bitcoin (BTC) is finding support as macroeconomic factors boost its appeal as an inflation hedge. The U.S. Senate passed a major budget bill without Senator Lummis's proposed pro-crypto tax amendments, which would have eased capital gains taxes on small transactions. Simultaneously, President Trump's comments on Truth Social, suggesting massive economic growth will offset deficits from a proposed $3.8 trillion tax cut, have fueled market concerns about fiscal policy. The source highlights crypto analyst Will Clemente's reaction, who suggested this policy undermines long-term U.S. Treasuries and strengthens the bull case for holding Bitcoin and gold. From a technical perspective, BTC traded around $107,937, establishing a key support level at $107,300 after fluctuating within a 1.21% intraday range between $107,194 and $108,489.

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