【Analysis: The U.S. debt ceiling may be reached during Trump's inauguration, possibly signaling a bottom for Bitcoin】Golden Finance reports that U.S. Treasury Secretary Janet Yellen has written to congressional leaders indicating that the Treasury expects the U.S. to reach 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. Just before the letter was released, risk assets weakened at the close. The U.S. stock market fell, with the S&P 500, Nasdaq 100, and Dow Jones Industrial Average each down about 1%. Bitcoin dropped 4% from its intraday high. Historically, raising the debt ceiling has been a negative signal for the largest cryptocurrency, as it has experienced declines or underperformance in the following days during the last five instances. Since the cycle low in November 2022, Bitcoin has followed a similar trend as the previous two cycles. The cycles from 2018-2022 and 2015-2018 both saw significant retracements at this point in their respective cycles. Trump's inauguration on January 20 may signal a bottom for Bitcoin. (Coindesk)

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