Cryptocurrencies drop as Senate approves Trump's bill, Bitcoin hits intraday low.

Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, dropped as the Senate approved Trump’s tax-and-spending bill. Bitcoin hit an intraday low of $105,157.40, erasing over $220 million in bullish longs. Ethereum traded around $2,400 with a 0.88% gain in open interest.

The global cryptocurrency market cap was $3.25 trillion, down 2.07% in 24 hours. Stocks had a mixed start to the second half of 2025. The Dow Jones rose 0.91%, S&P 500 dipped 0.11%, and Nasdaq fell 0.82%. Tesla and Nvidia led the tech sell-off, dropping 5.34% and 2.97%, respectively.

Analyst Ali Martinez noted a bearish signal for Bitcoin, predicting a drop below $40,000. The TD Sequential indicator issued a quarterly sell signal. Martinez also analyzed Ethereum, expecting more volatility until it breaks out of the $2,227–$3,385 range. Traders dismissed his findings on X.

The market sentiment was “Greed” according to the Crypto Fear & Greed Index. Long positions worth over $500 million could face liquidation if Bitcoin surges to $109,000. Short positions increased, signaling more traders entering the market.

Top gainers in the last 24 hours were Four (+0.87%), Pax Gold (+0.54%), and Tether Gold (+0.51%). The tax-and-spending bill passed by the Senate could add trillions to the national debt. Cryptocurrency analyst Ali Martinez warned of a potential market crash based on historical patterns.

Read more at Yahoo Finance: Analyst Spots ‘Rare Warning’ For BTC