Bitcoin (BTC) demonstrated significant resilience, trading firmly above the $107,000 mark as the market digested pivotal commentary on U.S. fiscal policy. As of 22:22 UTC on Sunday, June 29, 2025, BTC was priced at $107,937, marking a 0.54% increase over 24 hours. The price action was underpinned by a statement from President Donald Trump, which traders interpreted as a strong tailwind for hard assets like Bitcoin and gold. The day's trading was characterized by contained volatility, with the BTCUSDT pair oscillating between a low of $107,267.71 and a high of $109,022.89. This price stability above a key psychological level suggests a market absorbing macro inputs and preparing for its next major move.

The primary catalyst for the bullish sentiment was a message President Trump posted on his Truth Social platform amidst intense legislative negotiations over a sweeping tax and spending package. “For all cost cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don’t go too crazy! We will make it all up, times 10, with GROWTH, more than ever before,” he stated. This message was widely seen as an endorsement of a pro-growth, deficit-tolerant fiscal stance. The implication is that the government may prioritize economic expansion over immediate fiscal austerity, a policy that often leads to increased money supply and potential currency debasement. This sentiment was echoed by crypto analyst Will Clemente, who remarked on X, “How can you read this and hold long term US treasuries at current yields lol... Also, how can you read this and not hold any Bitcoin or gold.” His comment crystallizes the market's core thesis: in an environment of expansive fiscal policy, assets with a finite supply like Bitcoin become increasingly attractive as a store of value against the erosion of fiat purchasing power.

Bitcoin's Technical Strength Amidst Macro Tailwinds

From a technical standpoint, Bitcoin’s price action on June 29 provided several key insights for traders. The asset carved out a clear intraday range between $107,194 and $108,489. A critical support level formed around $107,300, which was tested and held firm multiple times, particularly during the 02:00–03:00 UTC window. This indicates strong buying interest at this price point. Trading volume provided further confirmation of the bullish momentum. According to the data provided by author @rovercrc, volume surged to a peak of 7,538 BTC between 08:00 and 11:00 UTC, coinciding with the push towards the daily highs. This volume surge suggests strong conviction behind the upward move.

Intraday Price Action and Key Levels to Watch

A closer look at the final hours of the trading session reveals nuanced activity. Between 13:05 and 14:04 UTC, BTC price action formed a minor descending channel as it pulled back from $108,219 to $108,059. A notable volume spike of 130 BTC occurred at 13:35 UTC, driving a sharp dip to $108,030. This level was briefly tested before buyers stepped back in, underscoring the dynamic battle between profit-takers and dip-buyers. For traders, the immediate support remains at the $107,300 floor, while a breakout above the daily high of $109,022 would signal a continuation of the uptrend. The BTCUSDC pair showed similar action, with a 24-hour high of $109,095.66, reinforcing this key resistance zone.

Altcoin Market Shows Divergent Performance

While Bitcoin captured the spotlight, the broader altcoin market displayed a mixed performance, highlighting a selective flow of capital. The AVAX/BTC pair was a standout performer, rallying an impressive 6.73% with a substantial 24-hour volume of over 859 BTC. This suggests a strong preference for AVAX over Bitcoin among some traders, potentially driven by ecosystem-specific news or a technical breakout. Other pairs also showed notable activity; LINK/BTC saw high volume of over 2,562 BTC, and DOGE/BTC registered a massive volume of 137,399 BTC, both posting modest gains. In contrast, the ETH/BTC pair slipped by 0.640%, indicating that Ethereum was underperforming Bitcoin in this specific trading environment. This divergence suggests that while the macro narrative is lifting the entire crypto boat, traders are placing specific bets on assets they believe have the most upside potential, with Bitcoin leading the charge as the primary macro asset.