The cryptocurrency market saw a surge of bullish sentiment as former U.S. President Donald Trump reinforced his pro-crypto stance, creating a favorable macro-environment for digital assets. During a recorded address at a crypto industry summit on Thursday, Trump pledged that his administration would focus on creating "clear and simple market frameworks" to ensure America's dominance in the crypto and Bitcoin space. This pro-innovation rhetoric, combined with fiscal policy discussions, has ignited significant interest among traders, pushing Bitcoin (BTC) to test higher levels. As of Sunday at 22:22 UTC, the BTC/USDT pair was trading at approximately $107,572, navigating a tight 24-hour range between $106,766 and $108,746. The market is closely watching the interplay between political promises and concrete fiscal actions, which are increasingly seen as primary drivers for BTC's valuation as a non-sovereign store of value.

Trump's Fiscal Policy Fuels Bull Case for Bitcoin and Gold

The core of the current bullish thesis stems from President Trump's recent statements on fiscal policy. In a message posted on his Truth Social platform on June 29, 2025, Trump addressed fiscally conservative Republicans debating his proposed tax-and-spending package. He urged them not to be "too crazy" with cost-cutting, promising that economic growth would more than offset any resulting deficits. "We will make it all up, times 10, with GROWTH, more than ever before," he wrote. This statement signals a continued reliance on supply-side economics, where tax cuts are expected to stimulate the economy to a degree that covers revenue shortfalls. However, this approach also implies a tolerance for significant near-term increases in the national debt, a scenario that strengthens the investment case for hard assets like Bitcoin and gold as hedges against potential currency debasement and inflation.

Market analyst Will Clemente captured this sentiment perfectly, reacting to Trump's post by questioning the viability of holding long-term U.S. treasuries at current yields. He added, "how can you read this and not hold any Bitcoin or gold." This perspective is gaining traction among investors who fear that expansive fiscal policy, coupled with the political difficulty of implementing deep spending cuts, will lead to a weaker dollar and a more inflationary environment. The proposed "One Big Beautiful Bill," which combines $3.8 trillion in tax cuts with more modest spending reductions, is seen by many as a catalyst that will force the Federal Reserve to maintain a looser monetary policy to accommodate government borrowing. This macro-backdrop makes Bitcoin’s fixed supply and decentralized nature exceptionally attractive to traders looking to shield their capital from fiscal irresponsibility.

Bitcoin Technical Analysis and Altcoin Momentum

From a technical standpoint, Bitcoin has demonstrated notable strength. Analysis of trading data from June 28 to June 29 shows BTC oscillating within a 1.21% intraday range between $107,194 and $108,489. A firm support level was established around $107,300, which was successfully tested and held multiple times, particularly during the 02:00–03:00 UTC window on June 29. A significant surge in trading volume, peaking at 7,538 BTC between 08:00 and 11:00 UTC, provided strong confirmation for the upward price momentum. Although a minor descending channel formed in the final hour of the session, with price dipping briefly to $108,030 on a 130 BTC volume spike, the overall structure remains bullish, with BTC consolidating above the key $107,000 level.

Broad Market Strength: Altcoins Follow BTC's Lead

The positive sentiment is not confined to Bitcoin. A look at major altcoin pairs reveals a risk-on appetite across the digital asset ecosystem. The ETH/BTC pair showed significant strength, rallying 3.23% to trade at 0.02334 BTC, indicating that Ethereum is outperforming Bitcoin in the current environment. Other Layer-1 protocols also posted impressive gains against Bitcoin. The SOL/BTC pair surged by 4.16% to 0.001471, while the AVAX/BTC pair was a standout performer, climbing 6.73% to 0.0002267. This broad-based rally is further confirmed by strong performance in other assets like Cardano (ADA), which saw its ADABTC pair rise 1.89%. The synchronized move across major altcoins suggests that capital is flowing confidently into the crypto market, driven by the belief that a favorable regulatory and fiscal landscape in the U.S. will benefit the entire sector, not just Bitcoin.