NewsletterBreaking: BTC Price Rises As US House Passes Trump’s ‘One Big Beautiful Bill’
Highlights
- Bitcoin has rallied from its intraday lows.
- This comes as the US House passed a final vote on Trump's One Big Beautiful Bill.
- The Tax bill will now head to the White House for Trump's assent.
The BTC price has rebounded from its intraday low of $108,600, having rallied to as high as $110,500 earlier in the day. This rebound follows the US House’s final vote to pass Donald Trump’s “One Big Beautiful Bill,” which now heads to the White House.
BTC Price Surges As US House Passes Trump’s Tax Bill
CoinMarketCap data shows that the Bitcoin price is back above $109,000 and looking to reclaim the $110,000 psychological level. This price surge came as the US House passed Trump’s tax cut and spending bill. According to Punchbowl News, 218 representatives voted in favor of the bill, while 214 voted against it.
The flagship crypto had earlier in the day dropped to as low as $108,600, after climbing to an intraday high of $110,550. The US House’s passing of the bill provides a bullish outlook for the BTC price, given how it could increase government spending and possibly weaken the dollar against the crypto asset.
As CoinGape reported, the Bitcoin price had also rallied two days ago when the US Senate passed the “One Big Beautiful Bill.” Following the passage of the bill in both chambers, the tax bill will now head to the White House for Trump’s assent. The US president is expected to sign the bill tomorrow.
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