The U.S. Senate has passed President Trump's extensive tax and spending package, dubbed the "One Big Beautiful Bill," with a tie-breaking vote from Vice President JD Vance.

The bill now awaits approval from the House of Representatives, where partisan conflicts are anticipated.

While the bill has generated positive reactions from crypto traders, it notably lacks specific provisions for the cryptocurrency industry, including a proposed tax amendment from Senator Cynthia Lummis.

Market analysts believe that the bill's economic implications, such as significant tax cuts and bonus depreciation, could benefit Bitcoin miners and enhance market liquidity through potential Federal Reserve easing.

The return of 100% bonus depreciation for mining equipment is expected to incentivize investments in Bitcoin mining, potentially boosting the network's hashrate.

Despite Fed Chair Jerome Powell's cautious stance, increasing pressure to lower interest rates could lead to substantial liquidity entering the market, possibly triggering a Bitcoin bull run.

Nic Puckrin, founder of CoinBureau, predicts that the bill will contribute to dollar devaluation by increasing U.S. debt by $3.3 trillion, which may drive investors towards Bitcoin as a hedge against weakening fiat currency.

Analytics firm Santiment suggests that the bill might rekindle investor interest in digital assets, with Bitcoin priced at $107,000 seen as a bargain entry point when bullish sentiment returns.

Following the bill's passage, both Tesla's stock and Bitcoin prices experienced a slight dip, indicating a correlation between the two during significant political developments.

However, deep cuts to healthcare and green energy programs have sparked public disputes between Trump and Elon Musk, who has criticized the bill for its potential negative impact on future-focused companies.

As the House prepares to vote on the bill and macroeconomic conditions evolve, traders anticipate a shift in market momentum that could set the stage for a potential expansion in the Bitcoin market.

The political landscape and the personalities involved in these developments can heavily influence crypto market movements, underscoring the need for traders to remain vigilant.