CoinDesk news, analyst James Van Straten stated that U.S. Treasury Secretary Janet Yellen has written to Congressional leaders indicating that the Treasury expects the U.S. to reach its debt ceiling as early as between January 14 and 23, 2025, and may need to take "extraordinary measures" to avoid the federal government falling into debt default. Raising the debt ceiling has historically been a negative signal for Bitcoin; in the last five instances of this kind, Bitcoin has experienced declines or poor performance in the following days. Since the cycle low in November 2022, Bitcoin's performance has been consistent with the previous two cycles. The cycles from 2018-2022 and 2015-2018 both saw significant pullbacks at this point in their respective cycles. Trump's inauguration on January 20 may serve as a bottom signal for Bitcoin.

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