The price of Bitcoin decreased below 107 thousand dollars, as the Senate voted on a beautiful big invoice, is it $ 100,000 after that?

Bitcoin (BTC) decreased to less than $ 107,000, as the “Grand and Beautiful Bill” of President Trump supervised fresh total concerns in the encryption market. As of July 1, bitcoin price is traded at 106,593 dollars, with a slight decrease of 0.9 % in 24 hours. However, with the presence of a pro -carbuto Senate Sina Lomes, who proposes friendly tax adjustments, can BTC a recovery, or will it decrease to $ 100,000?

Bitcoin prices fluctuate with the Senate’s vote on a beautiful, beautiful draft law

The US Senate is currently on the marathon race, which is a “beautiful, beautiful bill for President Trump”. During the vote-Rome, legislators suggest amendments to vote quickly, as Trump expects this legislation to obtain the approval of the Senate on July 4.

The ongoing process causes volatility in the price of bitcoin, as the value fluctuates between the daily rank with a height of 107,971 dollars and a low degree of 106,526 dollars. Meanwhile, more than $ 36 million from the BTC market has been liquidated within 24 hours for each Coinglass data.

The decline follows a renewed conflict between Trump and the CEO of Tesla Elusk on this law. As Coingepe stated, the encryption market is shaken after Musk revealed that if the proposal passes, it will lead to inflation.

However, there is some optimism from a section of encryption dealers who notice that even if the inflation rises, it will be upward for the BTC price. Famous analyst Max Kaiser notes that the legislation will be “Bonanza for Bitcoin”.

During, Senator Lomes suggested amendments For this bill, which will have bullish effects on the price of bitcoin. In X Publishing, she said,

“It is time to stop this unfair tax treatment and make sure that America is the bitcoin and encryption in the world.”

Matthew Pines from Bitcoin’s lawyer also notes that among the Lummis modification is “Bitcoin De Minimis” and urged voters to summon Senators to support this reform.

BTC risk slides to $ 100,000 before recovery

The daily time frame scheme explains that the price of BTC may be at the edge of the decline of about $ 100,000 if the uncertainty remains. The MACD line alludes to such a step because it is launched south and approaches the intersection of a decline with the signal line, which may support the prediction of the declining bitcoin price.

Meanwhile, BTC crossed the midfield of a parallel upward channel, a sign that the bears can try to restore control. If the price can lead to a decisive closure without this support, then the minimum goal lies at the level of 78.6 % Fibonacci of 104,067 dollars. Another closure below the main FIB level can see this bitcoin to 97,766 dollars.

The relative strength index also tends to the south, a sign that the upscale momentum that was helping the upward trend weakened. If this indicator decreases to less than the average level of 50, this will be an affirmation that bitcoin may slip to $ 100,000.

All in all, with the start of a new micro factor, the bears may try to pay bitcoin about $ 100,000 before the purchase activity increases again.

Data appears on the series low demand

Cryptoquant’s apparent demand scale shows a significant decrease in the new purchase attention. This negative scale turned to stand on -37000 BTC for the first time in one month, and it is a sign that merchants are folded towards the BTC price.

Despite the accumulation tactics, such as the last step by Kazakhstan to launch a national coding reserve, a lack of demand for retail will most likely affect the price.

In conclusion, the price of bitcoin is at a turning point where the legislators in the United States are looking to vote on “a beautiful, beautiful bill. The increasing concerns of American debt and their inflation caused Haboodi concerns, but some traders are optimistic that tax changes will fuel gain gains. With low demand and pressure, BTC may decrease about $ 100,000.

Metouni

Muthoni Mary is an analyst and writer in the experienced encryption market that has more than three years of experience deciphering Blockchain trends, price movements, and market dynamics. She holds a Bachelor’s degree in (Financial) Trade from Kenyatta University, and mixes the strong academic basis with the sharp eye of technical analysis and a deep understanding of the data on the series. Its work provides clear data -based visions that enable investors to move in the area of ​​advanced digital assets with confidence. When the market does not analyze, Mary has reading and traveling.

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