On July 3, the US Congress passed the One Big Beautiful Bill Act, which, despite offering little to the crypto industry, could benefit Bitcoin amidst wider economic upheaval. The bill, passed along party lines, significantly increases the US government’s borrowing capability. Although attempted amendments related to cryptocurrency tax provisions failed, market observers remain optimistic that the bill's consequences may positively affect Bitcoin's price, particularly as the national debt ceiling is raised by $5 trillion. Analysts note that more debt could lead to increased money printing, which is favorable for Bitcoin in the long term. However, the broader economic outlook is concerning, with the bill imposing significant tax benefits for wealthy earners while potentially cutting benefits for programs like SNAP and Medicaid. Pro-crypto legislators are planning an upcoming 'Crypto Week' in Washington, aiming to introduce multiple critical cryptocurrency-related bills. This situation indicates a robust dialogue around crypto policy even as traditional economic challenges loom large.

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