Bitcoin Stages V-Shaped Recovery on Trump Tax Bill Hopes
Bitcoin Surges Back Above $105,000 Level July 7, 2025, marked a dramatic turnaround for Bitcoin as the world's largest cryptocurrency staged a remarkable V-shaped recovery, climbing back above the $105,000 level. This surge came after a sharp decline the previous day, with the recovery driven by growing expectations surrounding President Trump's anticipated new tax legislation framework. The cryptocurrency market witnessed a significant spike in liquidity across digital assets over the past 24 hours, with Bitcoin leading the charge. Market analysts attribute this sudden reversal to a combination of political developments and economic news emanating from the United States, particularly speculation about the Trump administration's forthcoming tax policy reforms. Trump Administration's Crypto-Friendly Stance Since taking office in January 2025, the Trump administration has consistently pursued policies favorable to the cryptocurrency industry. The administrati...