Is Trump's 'One Big Beautiful Bill' Beneficial or Detrimental to Bitcoin?

The crypto community has seen significant discussion following the approval of US President Trump's "One Big Beautiful Bill". The legislation does not contain explicit crypto provisions, but traders anticipate indirect benefits, such as tax cuts and consumer spending incentives that could bolster a risk-on sentiment for Bitcoin and altcoins. Furthermore, the bill’s 100% bonus depreciation return could boost Bitcoin mining, as companies can instantly write off mining equipment purchases.

Despite this, disappointment has been expressed over the exclusion of Senator Cynthia Lummis' proposed amendment addressing staking, mining, and microtransaction tax complications. The impact of the bill on the crypto market is expected to manifest in coming weeks, influenced by political negotiations on fiscal spending, Treasury markets, and Federal Reserve liquidity actions.