NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

US Deadlock Over Stimulus Keeps Bitcoin Cautious; What to Expect?

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Bitcoin began trading cautiously on Monday as US lawmakers struggled to finalize a stimulus plan following its expiry on July 31.
  • The critical point of difference between Democrats and Republicans continues to be the proposed $1,200 assistance for the unemployed.
  • A final stimulus announcement could put more downside pressure on the US dollar, which, in turn, could help Bitcoin to rise higher.

Bitcoin started Monday on a cautious note as investors waited for the US lawmakers to finalize the next stimulus bill.

Democrats and Republicans laid out their competing versions of the relief package. One of the key sticking points concerned the unemployment assistance. The Republicans offered to reduced the federal boost to $200 per week. Nevertheless, the Democrats want the House to keep the relief at the old level of $600 a week.

“We’ve been for the $600. They have a $200 proposal, which does not meet the needs of America’s working families, and it’s a condescension, quite frankly,” House Speaker Nancy Pelosi said. “They’re saying, ‘They really don’t need it. They’re just staying home because they make more money at $600,’” she added.

On the other hand, Treasury Secretary Steve Mnuchin argued that their administration is worried about the debt burden following the second stimulus package.

“There’s obviously a need to support workers, support the economy,” Mr. Mnuchin said. “On the other hand, we have to be careful about not piling on enormous amounts of debt.”

Bitcoin Rebounds

The anticipation of a new stimulus bill kept the bids for safe-haven assets like Bitcoin higher. The cryptocurrency was up by circa 1 percent during the early London session Monday, trading at $11,181. Less than 24 hours ago, it was changing hands for nearly $10,500.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, cryptocurrency
Bitcoin price is rebounding following Sunday’s crash. Source: TradingView.com
Bitcoin price is rebounding following Sunday's crash. Source: TradingView.com

But BTC/USD remained cautious about extending its uptrend. Part of the reason was its sudden crash on Sunday, wherein the pair plunged about $1,500 within a few minutes of trading. The other reason – apprehensively – was a stronger US dollar.

The US stimulus deadlock allowed the greenback to breathe a little. After trading near its two-year low, the US dollar index on Monday surged by 0.36 percent, showing that some investors moved into the safety of cash amid stimulus concerns.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, cryptocurrency
US dollar index rebounds from its two-year low. Source: TradingView.com
US dollar index rebounds from its two-year low. Source: TradingView.com

Bitcoin and the US dollar index showed a negative correlation with one another since March’s global market rout. Therefore, a stronger outlook for the greenback kept the other’s bullish signals under wrap.

August 7

It is likely that Bitcoin would consolidate in a sideways direction as long as the US Congress passes the stimulus bill. It has until August 7 to put together the package.

Meanwhile, traders should watch for $10,500-level as support should a stronger dollar attempt to dismantle Bitcoin’s bull run.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Bitcoin surged to a new all-time high above $123,000 earlier today after crossing the $120,000 threshold late Sunday night. The...

Samuel Edyme 3 hours ago
XRP Price Corrects After Strong Rally

XRP Price Corrects After Strong Rally — Support Levels in Focus

XRP price started a fresh increase and traded above the $3.00 zone. The price is now correcting gains and might...

Aayush Jindal 3 hours ago
Ethereum Price Rallies Above $3,000

Ethereum Price Fails to Hold Momentum Above $3K — Correction Ahead?

Ethereum price started a fresh increase above the $3,000 zone. ETH is now consolidating gains and might correct lower toward...

Aayush Jindal 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Strategy Grabs Another $472M In Bitcoin—Even With Price At ATH

Keshav Verma 34 minutes ago
memecoins, crypto, trump, memecoin

Top Crypto Exchanges Made $172 Million From TRUMP Memecoin Listing – Report

Rubmar Garcia 2 hours ago
Solana

Solana (SOL) Pulls Back — Can Buyers Defend The $155 Line?

Aayush Jindal 3 hours ago

Premium Sponsors

Press Releases

  • Ove 3 kriptovalute ispod 1 dolara mogle bi pretvoriti 200 USD u milijune do 2027.

    Ove 3 kriptovalute ispod 1 dolara mogle bi pretvoriti 200...

    6 minutes ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    Aceste 3 monede sub 5 lei ar putea transforma o investiție...

    2 hours ago
  • How XRP Users Can Make $1 Million from $100 in No Time at...

    7 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    11 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.