TLDR
- The BTC price rebounded from an intraday low of $108,600 to trade above $109,000.
- The US House passed Donald Trump’s “One Big Beautiful Bill” with 218 votes in favor and 214 against.
- The BTC price surged after the bill’s approval, reflecting a positive market reaction to expected fiscal expansion.
- Bitcoin earlier climbed to a high of $110,500 before briefly retreating and then recovering again.
- The bill will now go to the White House, where President Trump is expected to sign it.
Bitcoin gained momentum following a key legislative event in the United States. The US House passed Trump’s “One Big Beautiful Bill,” boosting market sentiment. The BTC price rebounded sharply, regaining key levels after an earlier intraday decline.
BTC Price Rebounds After Intraday Dip
The BTC price dropped to $108,600 early in the day, reflecting initial uncertainty across markets. However, it quickly recovered and surged toward $110,500 during afternoon trading hours. Momentum grew stronger after lawmakers in the US House approved Trump’s sweeping tax and spending bill.
The passage of the bill sparked renewed interest in Bitcoin as traders responded to its potential macroeconomic impact. As a result, the BTC price climbed back above $109,000 and continued showing signs of strength. This shift followed reports confirming a narrow House vote in favor of the bill.
CoinMarketCap data confirmed the BTC price remained above $109,000 heading into the evening. Analysts attributed the move to rising expectations of increased fiscal spending. They also noted possible dollar weakness, which may continue to support Bitcoin demand.
BTC Supported by Political Developments
The BTC price already responded positively when the Senate passed the bill two days earlier. Now, with support from both chambers, the legislation heads to the White House. Trump is expected to sign the bill, which could trigger more investor interest in crypto.
This sequence of events highlights a clear correlation between political moves and BTC price movements. The narrow margin in the House also added urgency to the market’s reaction. Meanwhile, traders anticipate further developments as fiscal policy evolves.
If signed, the bill may boost government spending, increasing demand for assets like Bitcoin. The BTC price is currently stabilizing but remains sensitive to macroeconomic headlines.
