Bitcoin Holds Near $78,000 as Trump Floats Proposed $5,000 Dividend

Bitcoin traded in a narrow range between $77,650 and $78,000 early Thursday after President Donald Trump proposed issuing $5,000 dividend payments to American adults if Republicans retain control of Congress in the midterm elections.

Bitcoin Price Remains Range-Bound

The cryptocurrency showed limited movement following Trump’s comments, remaining below the $78,000 level. The muted response suggests the proposal had little immediate impact on bitcoin’s price as traders focused on broader economic factors.

Trump’s plan remains a proposal and would require additional details regarding eligibility, funding and implementation. The comments did not result in a significant change in bitcoin’s short-term trading range.

Markets Await Inflation Data

Bitcoin’s stable performance came ahead of key U.S. inflation data, which could influence expectations for monetary policy and broader risk appetite. Economic indicators, particularly those related to inflation and interest rates, have remained important drivers of cryptocurrency market volatility.

Investors are expected to assess the data for signals about the Federal Reserve’s future policy direction. Changes in interest-rate expectations can affect demand for risk assets, including bitcoin.

Political Proposal Has Limited Immediate Market Effect

Although a $5,000 payment could have broader economic implications if enacted, bitcoin’s initial reaction was subdued. The market instead continued to trade within its recent range as participants awaited further details about the proposal and the upcoming inflation figures.