Record Surplus in September Highlights U.S. Fiscal Momentum as BTC Struggles
The U.S. recorded a record September surplus, driven by strong revenues including new tariffs, while Bitcoin hovers near $105,000.Summary
The U.S. fiscal situation showed significant improvement in September 2025, achieving a record surplus of $198 billion, the largest for that month, which helped reduce the fiscal 2025 deficit to $1.78 trillion. This strong revenue was partly attributed to $30 billion collected from import duties (tariffs) introduced by President Donald Trump in April. These revenues partially offset record-high annual interest payments on the national debt, which exceeded $1.2 trillion. The success of the tariffs suggests a continued commitment to trade war strategies, potentially leading investors to seek safety in assets like bonds and gold, similar to the April “tariff tantrum.” Despite potential inflation from trade tensions, the Federal Reserve is expected to continue lowering interest rates, with markets pricing in a 50 basis point cut for 2025. Meanwhile, Bitcoin's short-term outlook appears less certain as its price hovers around $105,000.
(Source：CoinDesk)