CoinVoice has learned that CoinDesk analyst James Van Straten stated that U.S. Treasury Secretary Janet Yellen wrote to congressional leaders indicating that the Treasury expects the U.S. to hit the debt ceiling as early as between January 14 and 23, 2025, and may need to take 'extraordinary measures' to avoid a federal government debt default.
Raising the debt ceiling has historically been a negative signal for Bitcoin; in the past five instances, Bitcoin experienced declines or poor performance in the days that followed.
Since the cycle low in November 2022, Bitcoin's trajectory has been consistent with the previous two cycles.
The cycles from 2018-2022 and 2015-2018 both experienced significant pullbacks at this point in their respective cycles. Trump's inauguration on January 20 could signal a bottom for Bitcoin. [Original link]
