According to The Kobeissi Letter on Twitter, Elon Musk is urging the public to contact their Senators and Congressmen to 'kill the bill' related to Trump’s 'Big Beautiful Bill,' reiterating his longstanding focus on eliminating US deficit spending (source: @KobeissiLetter, June 4, 2025). For crypto traders, heightened debate around US fiscal policy and deficit reduction could increase market volatility, as legislative uncertainty tends to drive risk-off sentiment and strengthen the narrative for decentralized assets like Bitcoin.

According to Fox News, internal conflict is escalating within the GOP as millionaire tax hikes in Trump's 'big, beautiful bill' create a sharp division among party members (source: Fox News, May 9, 2025). This political uncertainty could impact macroeconomic policy, potentially increasing volatility in both traditional equity and cryptocurrency markets. Traders are closely monitoring legislative developments for signals that may influence capital flows and risk sentiment, especially as wealthier individuals seek alternative investment strategies in response to potential tax changes.

According to Fox News, a new legislative proposal known as the Gulf of America bill, introduced by a Trump ally, has caused significant frustration within the House GOP (Fox News, 2025-05-06). The internal discord could delay broader legislative progress, including crypto regulation bills under discussion. For crypto traders, this heightened political uncertainty may increase short-term market volatility and impact sentiment toward U.S. digital asset regulation, especially as investors watch for regulatory clarity that could affect Bitcoin and Ethereum price trends (Fox News, 2025-05-06).