On July 1, 2025, Bitcoin reached $108,252.94 amid discussions of the "One Big Beautiful Bill" in the U.S. Senate. A concurrent rise in retail investor interest is reflected in social metrics.
Price Surge of Bitcoin and Social Metrics
Bitcoin experienced a sharp price increase that coincided with rising retail investor interest, according to a report by Santiment. Social volume spiked to 68 mentions, while dominance hit 16%, demonstrating a synchronized market response to the price rise.
Tax Relief Bill Reaches Critical Stage
The "One Big Beautiful Bill" has officially reached Stage 4: Senate debate. It has cleared Committee Review, House Debate, and a full House Vote. Notably, Senator Cynthia Lummis proposed tax relief amendments for Bitcoin payments and small transactions aimed at eliminating double taxation.
Trader and Analyst Support for Bitcoin
Santiment's analysis shows bullish mentions outweighing bearish ones. Positive sentiment has notably increased in recent weeks. This legislative initiative is seen as potentially unlocking tax incentives for Bitcoin miners.
As of July 1, Bitcoin remains above $108K, supported by growing optimism and governmental support for cryptocurrency.
