BTC Steady as Traders Watch Trump Talks

[umair]

Hey everyone,

Just wanted to open up a discussion about what’s going on with Bitcoin this week. After last week’s solid rally of over 7%, BTC seems to be consolidating around the $107,000 range. Price action is tight, and volatility has dropped to one of its lowest levels since late 2023, which usually signals a big move could be around the corner.

A big part of the market pause seems to be tied to some upcoming political and economic events in the US. Former President Trump’s proposed budget bill, dubbed the “One Big Beautiful Bill,” is expected to hit headlines this week. Depending on its content—especially regarding spending and taxation—it could shift investor sentiment broadly across markets, including crypto.

There’s also growing noise around tariffs. An existing pause on some trade tariffs is set to expire soon, and speculation about new trade measures is stirring uncertainty. As we’ve seen in the past, anything that affects global trade and the US dollar can ripple into Bitcoin and other risk assets.

At the same time, we saw a rare daily outflow from US-based Bitcoin ETFs, ending a strong inflow streak. This could suggest that institutional traders are taking a breather or hedging ahead of this week’s macro events. With the July 4 holiday approaching in the US, trading volumes may remain thin, increasing the chance of sharp price swings.

Technically, a daily close above $108,000 could open up a path back toward recent all-time highs. But if the macro backdrop turns sour, a drop toward $105,000 or lower is on the table.

What’s your plan here? Staying on the sidelines, buying the dip, or expecting a breakout? Let’s hear your thoughts.