The post Will Trump’s $4.5T Tax Cut Budget Push Crypto Prices Higher? appeared on BitcoinEthereumNews.com.

Cryptocurrency prices like Bitcoin, Ethereum, and Ripple stabilized on Wednesday after crashing by double digits a day earlier.  These coins may benefit after the House of Representatives voted for the Trump budget with over $4.5 trillion of tax cuts. BTC price was steady at $89,000, while ETH price and XRP price were at $2,490 and $2.3. So, will this budget push coins like Bitcoin, Ethereum, and Ripple higher? Crypto Prices Stabilize as Trump Budget Passes the House A potential catalyst for the stability in the crypto market was that Republicans voted for Donald Trump budget proposal. His deal includes $4.5 trillion worth of tax cuts and ways to slash government spending by about $2 trillion.  Notably, the budget increased the debt ceiling by $4 trillion since this may lead to more money supply in the US. Some studies have established that Bitcoin price often tracks the global money supply.  Bitcoin and Money Supply Meanwhile, the budget deal comes at a time when the market is raising estimates for rate cuts this year. Rate cut expectations have soared even as inflation has remained elevated, with the headline consumer price index rising to 3%. The CME FedWatch Tool estimates that rates will end the year between 375 and 400 basis points, down from the current range of between 425 and 450 bps. BTC, ETH, and XRP prices do well when the Fed is cutting rates. Interest Rate Expectations BTC, ETH, XRP Price Prediction So, how will the new Trump budget with over $4.5 trillion in tax cuts affect the top prices like BTC, XRP, and ETH? BTC Price Technical Analysis BTC price crashed to $85,873 on Tuesday, triggering the biggest outflows from spot Bitcoin ETFs. From a fundamental perspective, these sharp declines are often buy signals, meaning that Bitcoin may stage a…

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Filed under: News - @ February 26, 2025 7:28 pm