Bitcoin ‘buys the rumor’ on US debt ceiling as BTC price nears $27.5K

BTC price action could attempt a reclaim of $30,000, analysis says, with Bitcoin climbing through its trading range.

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Bitcoin price risk? US debt deal to trigger $1T liquidity crunch, analyst warns

Bitcoin (BTC) stares at potential losses heading into the third-quarter of 2023 after U.S. lawmakers will likely reach an agreement on raising the debt ceiling. A $1 trillion liquidity hole ahead Raising the debt ceiling means the U.S. Treasury could issue new bonds to raise cash to meet its previous obligations. As a result, the [...]

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ECB President Lagarde Warns of ‘Major Disaster’ If US Defaults on Debt Obligations

There is a lot of discussion lately about the U.S. government’s debt ceiling and whether Congress will act before defaulting. In a recent interview, Christine Lagarde, the president of the European Central Bank (ECB), said she is confident the U.S. can maintain its debt obligations. However, she warned that if the U.S. were to default [...]

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Bitcoin Loses Grip On $27,000 Handle Amid Debt Ceiling Concerns – Details

The latest slide of Bitcoin below the $27,000 level has caught the attention of investors who are now keeping a close eye on the debt ceiling negotiations in Washington.  With US Treasury Secretary Janet Yellen issuing warnings that the US is projected to breach the debt limit as early as June 1, the stakes have [...]

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US Treasury Secretary: No Alternative Reserve Currency Can ‘Replicate’ Role Played by the Dollar

United States Treasury Secretary Janet Yellen recently told members of the U.S. Congress that while some countries are seeking to create alternatives to the greenback, no country, including China, can create a currency which replicates the dollar’s role in the global financial system. The U.S. Treasury secretary also claimed that it will not be easy

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Personal Finance Expert Says US Rating Downgrade Likely to Embolden BRICS Currency Supporters

The American rating agency Fitch’s recent downgrade of the United States’ credit rating from AAA to AA+ may embolden proponents of a BRICS currency, Riley Adams, a personal finance expert, has said. Adams however argues that there are certain “geopolitical issues” that must be overcome first before the BRICS currency becomes a reality. Debt Ceiling [...]

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Russia Monitoring US Economy Amid Possible Default, Says Official

Russia is closely monitoring the U.S. economy amid discussions of the U.S. government defaulting on its debt obligations. Treasury Secretary Janet Yellen said the Treasury will be unable to pay the government’s bills if Congress does not act by June 1. Russia Monitoring US Economy in Case of Debt Default Russia is closely monitoring the [...]

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Treasury Secretary Yellen Warns US Could Default on Its Debt by June 1

U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations “would produce an economic and [...]

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