Bitcoin Soars $28,000 After US Debt Ceiling Lift Ready To...
30 May 2023
Crypto News Source
Bitcoin Soars $28,000 After US Debt Ceiling Lift Ready To Vote
Bitcoin’s weekly situation update showed positive signs, with the price surpassing the $28,000 threshold after the agreement to raise the debt ceiling was announced and voted on. After seeing the positive news from the US debt ceiling lifting and, like the market comments from the previous article, BTC recovered when it touched the support area at $25,800 and retested the $27,000 and $28,200 areas. Currently, in the H4 time frame, the price is close to the strong resistance area combined.
On May 28, according to local time, US President Biden said in a speech that he had reached a final agreement with House Speaker McCarthy on raising the debt ceiling and called on Congress to approve the agreement as soon as possible. Biden said that reaching a debt ceiling agreement was an important step forward: “This agreement averted the worst of the crisis” and “eliminated the risk of catastrophic default.” He strongly urged the House of Representatives and the Senate to pass the agreement. The proposed deal has now been published on the House of Commons website. It projects that non-defense government spending will stay the same for two years and then increase by 1% by 2025.
Bitcoin’s weekly situation update showed positive signs, with the price surpassing the $28,000 threshold after the agreement to raise the debt ceiling was announced and voted on. After seeing the positive news from the US debt ceiling lifting and, like the market comments from the previous article, BTC recovered when it touched the support area at $25,800 and retested the $27,000 and $28,200 areas. Currently, in the H4 time frame, the price is close to the strong resistance area combined.
On May 28, according to local time, US President Biden said in a speech that he had reached a final agreement with House Speaker McCarthy on raising the debt ceiling and called on Congress to approve the agreement as soon as possible. Biden said that reaching a debt ceiling agreement was an important step forward: “This agreement averted the worst of the crisis” and “eliminated the risk of catastrophic default.” He strongly urged the House of Representatives and the Senate to pass the agreement. The proposed deal has now been published on the House of Commons website. It projects that non-defense government spending will stay the same for two years and then increase by 1% by 2025.
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