Bitcoin’s High-Wire Act: Debt Ceiling Fears Weigh as Price Dances Below $26.5K

Mai 27, 2023 Aus Von admin

• Bitcoin maintained a small rise of about 0.3% below $26,500, falling short of the previous two-week range of $26,500 to $27,500.
• Gold fell over 1%, trading at $1,959 after hitting a near-record high a month ago. Nasdaq Composite soared 1.7%, driven by tech companies while S&P 500 rose 0.9%.
• Concern is growing among certain sectors of Wall Street that depend on Treasury bonds for their operations as anxiety levels rise due to the U.S debt ceiling stalemate and its effects on the macroeconomic landscape.

Bitcoin Price Dances Below $26.5K

Recently, Bitcoin maintained a small rise of about 0.3% below $26,500, falling short of the previous two-week range of $26,500 to $27,500. Ether was trading slightly above $1,812 with a modest increase of approximately 0.3% compared to the previous day and other significant cryptocurrencies also showed slight gains with MATIC rising by 2%.

Gold’s Downward Trend Continues

Gold, a haven asset, fell over 1%, trading at $1,959 after hitting a near-record high a month ago despite tech stocks in Nasdaq Composite soaring 1.7% and S&P 500 rising 0.9%.

US Debt Ceiling Fears Weigh In

Concern is growing among certain sectors of Wall Street that depend on Treasury bonds for their operations as anxiety levels rise due to an impending US debt ceiling stalemate that will decide the government’s capacity to pay its debts in June. A number of traders are beginning to steer clear from US government debt while others are making arrangements to handle securities that may defaulting in danger defaulting should no agreement be reached between Republican lawmakers and White House before maturity date arrives .

Positive Economic Data Unaffected By Equity Markets

In an announcement by the U.S Labor Department yesterday there has been strong unemployment rate and GDP data with U