To that end, Bitcoin showed extreme trading fluctuations, at 24-hour lows of $107,194 and highs of $108,489. Despite these swings, Bitcoin traded at $107,937 as of 22:22 UTC on Sunday, marking a 0.54% increase over the past 24 hours. The cryptocurrency demonstrated resilience with established support at $107,300, where multiple rebounds occurred between 02:00 and 03:00 UTC.

Heavy volume spikes during the trading day were responsible for fueling Bitcoin’s volatility in both directions. Bitcoin's volume peaked at 7,538 BTC between 08:00 and 11:00 UTC on June 29, confirming the upward momentum during those hours. A notable event occurred at 13:35 UTC when a 130 BTC volume spike coincided with a sharp dip to $108,030. This level was certainly tested but did finally hold, signifying an important zone of price stability.

During the day, Bitcoin price action was marked by punchy intraday rallies followed by profit taking. From June 28 15:00 to June 29 14:00 UTC, Bitcoin traded within a 1.21% range, moving from $107,194 to $108,489. In the final session hour (13:05–14:04 UTC), Bitcoin experienced a slight decline, falling from $108,219 to $108,059, which formed a descending channel.

The final intraday rally pushed Bitcoin's price back toward the $108,000 mark before slightly receding to $107,937 by 22:22 UTC. These movements are a testament to how volatile and sensitive to trading volumes the Bitcoin market remains.

Market analysts have their eyes glued to these trends to get a sense of where the markets might move in the future. Our support level at $107,300 is incredibly important. If it closes under this level for a significant amount of time, it may signal further downside danger. A clear breakthrough and hold above $108,500 would open the door to further upside potential.

Against this backdrop of market fundamentals, a host of external factors still do their part to rattle investor sentiment. Only recently, some comments by politicians started raising alarms across the crypto space. For example, perhaps the biggest surprise in financial pundit circles has been the release of Donald Trump’s proposed statement on deficit spending.

"For all cost cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don’t go too crazy! We will make it all up, times 10, with GROWTH, more than ever before" - Donald Trump

Will Clemente, a popular on-chain crypto analyst, weighed in on what the long-term effects of such fiscal policy could mean.

"How can you read this and hold long term US treasuries at current yields lol... Also, how can you read this and not hold any Bitcoin or gold" - Will Clemente

These perspectives illuminate the growing relationship between macroeconomic policy and the attraction of cryptocurrencies such as Bitcoin to investors as alternative assets.