Bitcoin and Ethereum Gain Momentum Amid U.S. Lawmakers’ Efforts to Avoid Debt Default
Cryptocurrency prices experienced a boost over the weekend as U.S. lawmakers seemed less likely to trigger the nation’s first-ever debt default. House Speaker Kevin McCarthy and President Joe Biden moved closer to a finalized deal on the debt ceiling, with negotiations ongoing. This news coincided with a 2.9% increase in Bitcoin’s price and a 1.4% rise in Ethereum. Altcoins like Cardano and Solana also saw gains, while Tron experienced a slight decline. Analysts believe the market is responding to the progress in Capitol Hill, providing some optimism. As the debt deadline approaches, the situation remains uncertain, but for now, crypto markets appear to reflect a degree of confidence in the bipartisan efforts.
Clever Robot News Desk 31st May 2023
