Debt ceiling concerns may impact cryptocurrency market as treasury balance plunges

Quick Take

• Concerns proceed to physique astir the indebtedness ceiling negotiations.
• President Biden is insisting connected an unconditional debt-ceiling increase.
• This week, a gathering volition hap betwixt President Biden and legislature leaders astir the concerns of the Treasury equilibrium remaining depleted.
• MacroScope states, “Revenues successful April this twelvemonth were 26% beneath the aforesaid period successful 2022.”
• Furthermore, “Tax revenues successful the existent fiscal twelvemonth to April were much than
  $250bn beneath estimates made conscionable a fewer months earlier.”
• The Treasury General Account sits astatine $155 cardinal and is plunging fast.
• Markets are inactive expecting a last-minute deal, arsenic per usual.

Treasury Balance: (Source: MacroScope)

The station Debt ceiling concerns whitethorn interaction cryptocurrency marketplace arsenic treasury equilibrium plunges appeared archetypal connected CryptoSlate.