The crypto market took a sharp dive after the U.S. President Donald Trump ordered surprise airstrikes on Iran’s nuclear facilities. The attack reportedly took out three major nuclear-powered sites, sparking geopolitical tension and a wave of panic across global markets.
As news of the airstrikes broke, Bitcoin, Ethereum, and other leading cryptocurrencies saw heavy sell-offs, with billions wiped from the market in just hours. Many bullish positions were liquidated as traders rushed to pull out of risky assets amid fears of further escalation.
The price of Pi Network’s Pi Coin has plunged by 11% in the last 24 hours, slipping dangerously close to its all-time low. At the time of writing, Pi is trading at $0.47, leaving many holders worried about the coin’s future.
This latest drop comes after a difficult few weeks for Pi Coin, with prices crashing over 30% in June alone. One of the main reasons behind the fall is a massive token unlock of 263 million Pi tokens this month, worth around $143 million. This huge increase in supply has added selling pressure, pushing prices down.
Technical indicators show that Pi might be approaching oversold territory, a level where prices often bounce back. On top of that, June 28th, known as 2 Pi Day in the Pi community — is just days away. Historically, the project has made big announcements around this date, and many are hoping for fresh updates, partnerships, or new features that could lift market sentiment.
However, analyst Dr Altcoin took to social media and wrote, “Pi is officially in the $0.4 range, and I expect it to remain there until the end of August. Pi Day 2 is unlikely to have any impact.”
The US Senate has narrowly passed former President Donald Trump’s sweeping $3.3 trillion fiscal package — the so-called “Big Beautiful Bill.” As the legislation heads to the House for final approval, crypto markets are closely watching the potential impact.
Bitcoin and Ethereum prices remained steady Tuesday despite the broader market dip. However, BeInCrypto analysis projects that this bill, if enacted, could reshape investor sentiment and capital allocation.
Bitcoin Likely to Gain as a Fiscal Hedge
The most immediate impact would be on Bitcoin. The bill expected to raise the national debt by over $3 trillion. So, market participants are already bracing for longer-term inflationary pressure.
Ethereum and other large-cap altcoins may also gain short-term support. Risk rotation out of bonds and into alternative assets often lifts crypto broadly.
However, not all tokens are positioned equally. Infrastructure and utility tokens stand to benefit from increasing activity and capital flows.
The Big Beautiful Bill (BBB) passed the Senate. It returns to the House and will likely pass to Trump’s desk for his signature. The more debt, the better for Altcoins. pic.twitter.com/2Aeb8Wp7C9
— Marius BitcoinTAF.com (@LandM_Marius) July 1, 2025
If the final bill includes crypto-friendly tax reforms — including de minimis exemptions and staking income clarity — it could lower friction for small traders and DeFi users.
Institutional sentiment may be more cautious. Rapid debt accumulation and a potentially inflationary outlook could lead institutional investors to adopt a wait-and-see approach, especially if the Federal Reserve tightens policy in response.
The “One Big Beautiful Bill” includes provisions that could impact Bitcoin and other digital asset taxes. Specifically, it proposes eliminating capital gains tax on Bitcoin transactions under $600, aiming to treat small crypto…
Short-Term Outlook: Crypto Market Could Push Higher
If the House passes the bill with crypto provisions intact, Bitcoin and Ethereum may rally further. Capital rotation out of Treasuries, driven by rising US debt and fiscal uncertainty, could drive prices higher.
The total crypto market cap could test the $3.5 to $3.7 trillion range in the near term.
However, the extent of the rally will depend on broader macroeconomic conditions, including interest rate policy, regulatory enforcement, and global liquidity trends.
If the Fed raises interest rates to counter fiscal expansion, this could strengthen the dollar and pressure crypto markets. Conversely, if the Fed remains accommodative, digital assets may continue to benefit.
The Fed is bracing for stagflation:
The number of FOMC members who see upside risks to both their inflation and unemployment forecasts reached 14 in May.
Furthermore, 18 and 17 members saw upside risks to inflation and unemployment, respectively, in March.
— The Kobeissi Letter (@KobeissiLetter) July 1, 2025
The survival of the bill’s crypto provisions will also be crucial. If tax relief measures are stripped out or watered down in the House version, the sector could face renewed headwinds.
Bottom Line
The Senate’s passage of Trump’s “Big Beautiful Bill” marks a major fiscal shift.
If it clears the House, crypto assets — especially Bitcoin — are likely to benefit from growing fiscal concerns and investor desire for alternative hedges.
Yet volatility remains a risk. Fed policy, inflation data, and legislative negotiations will shape how sustainable any crypto rally becomes.
Charles Schwab, one of the world’s largest asset managers with $7.13 trillion under management, is preparing to launch spot crypto trading within the next 12 months. This move signals growing mainstream adoption of digital assets by traditional financial institutions. By entering the crypto space, Schwab aims to meet rising investor demand for easier access to cryptocurrencies. The rollout is expected to make crypto trading more accessible to everyday users through Schwab’s trusted platform. More details are expected in the coming months.
The post Charles Schwab Gears Up for Spot Crypto Trading by Next Year appeared first on Coinpedia Fintech News
Charles Schwab, one of the world’s largest asset managers with $7.13 trillion under management, is preparing to launch spot crypto trading within the next 12 months. This move signals growing mainstream adoption of digital assets by traditional financial institutions. By entering the crypto space, Schwab aims to meet rising investor demand for easier access to …
