Trump Tweets, Bitcoin Sings: What Happens When Fiscal Discipline Dies? 😏🚀💰

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What to know:

  • BTC tiptoed up 0.54%, closing the dance at $107,937, while support dozed seductively near $107,300.
  • On June 29, Trump bade his fiscal hawk friends to unclench, making even bitcoiners smirk in admiration.
  • The charts flirted with a descending channel, just to pirouette elegantly (read: chaotically) near $108K before curfew.

Bitcoin hovered at $107,937 by 22:22 UTC, suggesting that even subatomic quantum quarks might envy its restlessness. As if a spotlight on Washington’s moral circus was not enough, Trump lobbed a post on Truth Social that sent the markets into caffeinated jitters.

Price action resembled a drunken waltz, BTC sashaying between $107,194 and $108,489—CoinDesk’s technical model presumably clutching its pearls the entire time.

On June 29, 2025, President Trump unleashed his inner Tolstoy across Truth Social, cautioning Republicans: “For all cost cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don’t go too crazy! We will make it all up, times 10, with GROWTH, more than ever before.” The “One Big Beautiful Bill”—900+ pages, three acts, no intermission!—was thus introduced with a flourish sure to drive CBO analysts to poetry (or perhaps drink).

The magnum opus: $3.8 trillion in feel-good tax breaks, craftily spliced with “targeted” spending reductions and a dash of defense and border glitter. Trump’s 2017 Tax Act gets extended encores: no taxes on tips, overtime, and certain auto loans—because nothing says prosperity like an untaxed turbo-charged Camry. The child tax credit’s balloon rises to $2,200, while “temporary” senior deductions give elderly accountants palpitations. Medicaid and nutrition, those not-so-subtle wallflowers, get trims to balance the exuberance.

Moderates play for a SALT encore; conservatives shake their sabers, hungry for more austerity soufflĂ©. Nothing says “delicate majority” like brawling over which states get the last deduction.

Trump, maestro of the fiscal seesaw, attempts to harmonize the shrill chorus: restrain, yes, but trust THE GROWTH. The supply-side incantation—a spell promising future bounty and conveniently parking today’s bills in the neighbor’s mailbox—swirls over the congressional floor. “Debt? $36.2 trillion? Mere trifle. Wait for growth. Bigger than ever. HUGE.” (The ghost of Keynes, somewhere, facepalms.)

Enter crypto oracle Will Clemente on X (nĂ©e Twitter), reading Trump’s runes: “How can you read this and hold long term US treasuries at current yields lol… Also, how can you read this and not hold any Bitcoin or gold.” Treasuries, those once-sedate storekeepers, now compete with gold and Bitcoin—eternally beckoning with the charm of an Austrian safe and the ambiguity of a blockchain riddle. Who’d trust a fixed coupon in an age of “mad money printers go brrr”? Not Will.

Fixed-income relics become wallflowers, while the cool kids—gold, Bitcoin—command the disco, snapping their fingers at inflation and deficit risks. Fiscal discipline, that once dour uncle, now mutters into his sherry, while inflation-resistant assets flex in the spotlight.

The Senate’s mad dash before July 4 evokes a particularly American blend of suspense, slapstick, and subprime accounting. The “One Big Beautiful Bill”—so costly, so contentious—wobbles on its paper legs, as lawmakers juggle tax fancies, budget hacks, and the ever-watchful eye of November.

Technical Analysis Highlights

  • June 28 15:00 to June 29 14:00 UTC: BTC twirls from $107,194 to $108,489, or a dainty 1.21% range—so precise you could set your clock to it (just don’t ask the Fed).
  • Support at $107,300: a comfy divan where BTC curled up for a snooze, rebounding jauntily during the 02:00–03:00 slot.
  • Peak volume at 7,538 BTC (08:00–11:00 UTC, June 29): clearly, someone’s bots ordered a full English breakfast.
  • Final hour: BTC slips from $108,219 to $108,059, slipping into a neat little descending channel (because gravity works, even in crypto).
  • A 130 BTC volume spike at 13:35: a sudden “Oops!” moment, price kisses $108,030, support blushes, holds firm.
  • One last rally—prices pirouette near $108K before rolling lazily back to the day’s finale at $107,937. Bravo, bravo.

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2025-06-30 02:02