The U.S. Senate passed President Trump's multitrillion-dollar fiscal stimulus package, the "Big, Beautiful Act," raising the nation's debt ceiling and heightening inflation concerns.
A weakening dollar and heightened fiscal uncertainty could cause investors to start shifting from bonds to cryptocurrencies, pushing up the prices of Bitcoin and Ethereum.
Bitcoin and US Dollar Index (DXY) trend chart in 2025 | Source: MacroMicro
The bill has now entered the final review process in the House of Representatives. If adopted and passed, crypto tax reforms (such as small transaction tax exemptions) may make the cryptocurrency market more friendly to retail investors, thereby promoting the development and popularization of the market.