Bitcoin Surges 1.5% to $108,252.94 as Trump Bill Advances

Bitcoin's price surged to $108,252.94 on July 1, 2025, driven by a significant spike in social metrics and retail interest. The rally was sparked by the advancement of Trump’s "One Big Beautiful Bill" to the U.S. Senate, which has ignited strong bullish sentiment across social platforms. According to a post by Santiment, social volume rose to 68 mentions while dominance hit 16%, closely tracking BTC’s upward price movement. This surge in social metrics suggests renewed excitement as prices and engagement rise together, indicating early FOMO activity among retail investors.

The "One Big Beautiful Bill" has officially reached the Senate debate stage, having cleared Committee Review, House Debate, and a full House Vote in recent weeks. The bill now requires Senate passage before being signed into law. Senator Cynthia Lummis proposed a tax relief amendment focused on Bitcoin payments and small transactions, aiming to end double taxation and exempt small BTC payments from capital gains. This push signals broader support for favorable crypto regulation and adds firepower to the bill, giving Bitcoin miners and traders real regulatory momentum to cheer.

Santiment’s advanced filter tool shows that bullish posts have outweighed bearish mentions in recent weeks, with positive sentiment jumping sharply in the latest chart bar. This response tracks closely with speculation that the bill may unlock tax incentives for Bitcoin miners. The surge in price and sentiment shows growing alignment between market expectations and regulatory prospects, with traders viewing this policy moment as pivotal for long-term BTC adoption. As of July 1, BTC held firm above $108K, supported by mounting optimism and legislative momentum favoring crypto.

Elon Musk’s frustration over delays was also referenced in social threads, adding pressure on policymakers. The bullish sentiment is further supported by the Relative Strength Index (RSI), which stands at 52. This reading indicates that while the bullish trend is intact, there is still room for caution. The RSI is a key indicator used by traders to measure the speed and change of price movements, and a reading of 52 suggests that the market is neither overbought nor oversold. The bullish momentum is also reflected in the broader crypto market, with Bitcoin's price climbing to $108,405, marking a significant increase from the previous resistance level of $106,723. This resistance level, which has historically been a significant barrier to upward price movement, has now been breached, indicating that Bitcoin could be poised for further gains.

The bullish sentiment is also reflected in the broader economic landscape, with investors increasingly optimistic about the prospects for the global economy. This optimism is reflected in the strong investor sentiment, which is signaling potential growth for Bitcoin. The bullish patterns, historical data, and strong investor sentiment all point to a potential breakout for Bitcoin in the coming months. The broader market strength is a positive sign for Bitcoin, as it indicates that the bullish sentiment is not limited to a single cryptocurrency. Altcoins such as Ethereum and Solana are also seeing significant gains, with Ethereum climbing and Solana leading the altcoin rally on ETF speculation. This broader market strength is a positive sign for Bitcoin, as it indicates that the bullish sentiment is not limited to a single cryptocurrency.