In a significant political breakthrough, the U.S. Senate has passed President Donald Trump’s ambitious fiscal proposal. The move sparked an immediate reaction from the crypto markets, with Bitcoin rebounding above the $106,000 mark—a level seen as psychologically and technically important by traders.
📈 Bitcoin Rallies After Washington Shake-Up
Following several days of price consolidation, Bitcoin surged back above $106,000, just hours after news broke that Trump’s “One Big Beautiful Bill” was approved by the Senate. According to CoinMarketCap, the leading cryptocurrency had dipped to an intraday low of $105,689, but reversed course sharply once the vote result was confirmed.
The bill, a major Republican priority, includes $3.3 trillion in tax and spending cuts. The Senate vote was deadlocked at 50-50, until Vice President J.D. Vance cast the deciding vote, tipping the outcome in favor of the bill’s passage.
💸 Why the Crypto Market Cares
The legislation now heads to the House of Representatives for further consideration. It combines $4.5 trillion in tax reductions with $1.2 trillion in government spending cuts, while also raising the federal debt ceiling.
This combination has far-reaching implications for financial markets, especially for the value of the U.S. dollar. As a result, Bitcoin has gained renewed investor attention.
Legal expert John Deaton called the bill a “walking advertisement for buying Bitcoin.” Arthur Hayes, co-founder of BitMEX, suggested the bill signals that the government has no intention of slowing down its money printing—which makes Bitcoin, with its capped supply, an increasingly attractive hedge.
🪙 Weaker Dollar, Stronger BTC?
By lifting the debt ceiling, the U.S. government is now allowed to borrow beyond its current earnings, potentially putting downward pressure on the dollar. In such scenarios, Bitcoin often emerges as a store of value, much like gold.
If investors lose confidence in the dollar due to expansive fiscal policy, many could turn to BTC as a safe haven—a shift that could drive the cryptocurrency’s price even higher.
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