πΊπΈ Trumpβs $3.3T βBig Beautiful Billβ Passes Senate β Bullish for Crypto? π¨
π§Ύ The U.S. Senate has approved Donald Trumpβs $3.3 trillion bill, dubbed the βBig Beautiful Bill.β While it still awaits House approval, the crypto market is already reacting positively.
π₯ Highlights:
β’ $4.5T in tax cuts and $1.2T in entitlement cuts
β’ No revenue offsets β rising inflation risk
β’ Crypto perks: $300 tax exemption, staking/mining tax deferrals
β’ Bitcoin gaining ground as a hedge against fiat debasement
π Analysts say Bitcoin and Ethereum could shine, but meme coins may struggle.
The Fedβs next move will be key. Another rate hike? Or rocket fuel for crypto?π
π MyTonWallet
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β’ $4.5T in tax cuts and $1.2T in entitlement cuts
β’ No revenue offsets β rising inflation risk
β’ Crypto perks: $300 tax exemption, staking/mining tax deferrals
β’ Bitcoin gaining ground as a hedge against fiat debasement
The Fedβs next move will be key. Another rate hike? Or rocket fuel for crypto?
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Arizona Governor Vetoes Crypto Reserve Bill π
Arizonaβs Governor Katie Hobbs has vetoed House Bill 2324, which aimed to create a Bitcoin & Digital Assets Reserve Fund using seized crypto.
π¬ Hobbs argued it would discourage local enforcement by removing seized assets from their control.
π° The bill proposed that the first $300K go to the Attorney General, with the rest split between the AG, the state, and the new reserve.
π§Ύ This is Hobbsβ third crypto bill veto, citing concerns over crypto being βuntested investments.β
Meanwhile, Texas and New Hampshire are moving forward with state-run Bitcoin reserves.
βοΈ Smart caution or missed opportunity for Arizona?
π MyTonWallet
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Arizonaβs Governor Katie Hobbs has vetoed House Bill 2324, which aimed to create a Bitcoin & Digital Assets Reserve Fund using seized crypto.
Meanwhile, Texas and New Hampshire are moving forward with state-run Bitcoin reserves.
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Fear and greed index: 54 - Neutral
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Bitcoin just reclaimed the $110,000 level β and the market is buzzing! After testing resistance zones for days, this move could signal the next big leg up.
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Bitcoin at $108K β But Whales Are Making Moves You Canβt See π
πͺ BTC sits around $108,000, seemingly calm β but beneath the surface, whales are repositioning fast.
π§ On-chain data from CryptoQuant reveals late June saw over $1.24B in losses and $641M in profits β clear signs of institutional rebalancing. Some short-term whales have already capitulated, while older players quietly locked in $91M gains.
π Meanwhile, long-term holders are sitting on unrealized profits of ~220%, far from the 350% peaks seen in 2024. The market isnβt overheated yet β and $140K might still be in sight.
π Calm price β calm market.
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North Korean Hackers Now Targeting Crypto via Mac Malware π¨
π» A new report from Sentinel Labs reveals that North Korean hackers are using NimDoor, a malware targeting Mac users in the crypto space.
π― Attackers impersonate trusted contacts on Telegram, send fake Zoom updates, and sneak malware into devices. NimDoor then steals wallet data, passwords, and even Telegram decryption keys.
π§ The twist? Itβs written in Nim, a rare language that dodges antivirus software and works across platforms.
π Myth busted: Macs do get viruses β and crypto is in their crosshairs.
Stay alert.
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Why Is the Crypto Market Pumping Today? π
π΅ The M2 money supply in the U.S. surged by 4.5%, fueling demand for risk assets like Bitcoin, now near $109,366.
π€ A U.S.βVietnam trade deal boosted market sentiment, favoring American exports.
π $407M flowed into Bitcoin ETFs, led by Fidelity and Ark.
π₯ $249M in short liquidations added to the rally.
π Top gainers: Bonk +22%, WIF +18%, TIA +15%
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π $407M flowed into Bitcoin ETFs, led by Fidelity and Ark.
π₯ $249M in short liquidations added to the rally.
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βͺοΈ "Although the price of ETH has not shown significant growth yet, institutional investors continue to actively accumulate this asset and stake it at record rates, indicating the potential for a substantial rally,"
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π€ βI have made my position clear against adopting this bill. The US should reach its debt ceiling and live within its means, just like ordinary people do. However, instead, we are witnessing significant taxation through inflation.β
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βΉοΈ ETPs (exchange-traded products) are the equivalent of ETFs.
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