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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

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

buy bitcoin Arthur Hayes

Buy Bitcoin Before Jackson Hole—Or Regret It Forever, Says Arthur Hayes

Arthur Hayes has published a new essay, “Quid Pro Stablecoin,” arguing that the United States’ sudden political enthusiasm for bank-issued...

Jake Simmons 4 hours ago

Ethereum Stagna: I Dati On-Chain Mostrano Accumulo da Parte delle Whale

Ethereum continua a mostrare un movimento di prezzo limitato verso l’alto, nonostante i guadagni registrati la scorsa settimana. Negli ultimi...

clararosati 4 hours ago
Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin climbed above $109K, triggering a surge across the markets: Ethereum ($ETH) – up 4.65% XRP ($XRP) – up 3.86%...

Aaron Walker 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

Dogecoin price news

Dogecoin’s Quiet Setup Could Detonate Shorty, Says Analyst—Here’s The Target

Jake Simmons 16 minutes ago
PEPE

PEPE Eyes 150% Jump To Grab Liquidity At $0.000025 After Bouncing Off ‘Powerful Support’

Scott Matherson 1 hour ago
Bitcoin

The Silent Bitcoin Accumulation: Public Companies’ Surprising H1 2025 Lead

Christian Encila 3 hours ago

Premium Sponsors

Press Releases

  • The smartest way to make money in 2025: Invest in cloud...

    1 hour ago
  • 仮想通貨プレセール注目|ビットコイン、2025年第3・第4四半期が最良期と予測

    ...

    1 hour ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    2 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    2 hours ago
  • 仮想通貨おすすめ|SPX6900のように急成長が期待される最新ミームコインプレセール

    ...

    3 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.