Treasury Secretary Janet Yellen has warned that the United States may break its debt ceiling before June 1st, and a default could trigger an economic recession.BTCAccording to CoinDesk data, the largest cryptocurrency by market value has recently traded at $26950, a decrease of approximately 1
Treasury Secretary Janet Yellen has warned that the United States may break its debt ceiling before June 1st, and a default could trigger an economic recession.
BTC
According to CoinDesk data, the largest cryptocurrency by market value has recently traded at $26950, a decrease of approximately 1.3% on the same day. In the past 24 hours, the price of BTC has been fluctuating between $26800 and $27400.
Although the Minister of FinanceJanet Yellen warned thatThe United States is expected to break the debt ceiling as early as June 1st, andexpressA default could lead to an economic recession, but several analysts believe that a solution to the debt ceiling issue may boost Bitcoin.
In our view, the current macroeconomic situation is conducive to increasing the adoption of cryptocurrencies, "Joe DiPasquale, CEO of cryptocurrency fund management company BitBullCapital, told CoinDesk in an email. As market participants seek wealth, raising the debt ceiling also bodes well for risky assets, "he added.
Lucas Outumuro, the research director of blockchain analysis company IntoTheBlock, told CoinDesk that "there will definitely be someone bidding for BTC" regardless of whether an agreement is reached on the debt ceiling.
Outumuro believes that the impact of these negotiations and the ongoing banking crisis is similar: "They both highlight systemic weaknesses and raise doubts about their long-term sustainability, leading to a demand for potential alternatives such as cryptocurrencies
ETHLDOContinuing Monday's strong trend, up 3%. Native to Layer2 blockchain PolygonMATICThe token fell 2.8%, hovering around 0.82 cents.
The CoinDesk market index that measures the overall performance of the encryption market(CMI) fell 1.1% that day.
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