Bitcoin Tops $107K Amid Policy and Fiscal Moves

Bitcoin (BTC) has remained resilient, trading above $107,000 as markets respond to U.S. macroeconomic and political developments. President Donald Trump's pro-growth fiscal agenda, including proposed permanent tax cuts and acceptance of higher deficits, has reinforced Bitcoin's appeal as a hedge against inflation and currency debasement. Legislative efforts led by Senator Cynthia Lummis aim to simplify crypto taxation and introduce a de minimis exemption, potentially boosting mainstream adoption. The Federal Reserve has kept interest rates steady and maintained a hawkish outlook, while investors await insights from Fed Chair Jerome Powell and upcoming inflation data. Analysts caution that Bitcoin's high profitability makes it susceptible to short-term volatility and corrections. Ongoing geopolitical tensions in the Middle East continue to contribute to market uncertainty and sporadic risk-off sentiment.