Bitcoin (BTC) retreated to around $108,000 as short-term investors realized profits after failing to break through the strong resistance at $110,000. Crypto analyst Daan Crypto Trades noted on X (formerly Twitter) that "Bitcoin would be positive if it closes daily above $110,000, but it could trigger a correction if it falls below $108,000".
Amid this market uncertainty, some analysts believe Trump's statements could be a new turning point. Particularly, if his proposed 'Big Beautiful Bill' leads to a certain level of fiscal spending, there is growing expectation that it could be a catalyst for pushing Bitcoin to an all-time high. Past examples support this claim. For instance, after Trump signed the COVID-19 response spending bill in late 2020, Bitcoin's price surged by approximately 38%.
Market research firm Kalshi expects the US federal debt to reach $40 trillion by 2025. This is a significant increase from $23.2 trillion in 2020, stimulating expectations that the US government's large-scale spending could positively impact digital assets.
Meanwhile, as Bitcoin successfully rebounds from the current moving average, market sentiment is gradually improving. Accordingly, there are analyses suggesting that major altcoins such as Binance Coin (BNB), Solana (SOL), Chainlink (LINK), and Aave (AAVE) are likely to break through their previous all-time highs. Investors are once again focusing on the potential trend reversal of Bitcoin and the market impact of Trump's policies.
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