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Quotes of the flagship crypto asset rose amid reports of the closing of a long-awaited deal to increase the US government debt limit. Experts suggest that a decision on this issue will be made public very soon, as representatives of the White House and Congress agreed on a compromise on public spending.
Experts from CNBC noted that Republicans in the House of Representatives will still lobby their demand for spending cuts as part of the debt ceiling agreement. In turn, economist Marion Navfal suggested that the negotiators agreed to increase defense spending by 3%. The specialist also believes that officials reached a consensus on this issue on May 25.
It is worth noting that the unresolved situation on the US government debt ceiling has been affecting the global market for a long time. In recent weeks, volatility and liquidity in the digital asset segment has decreased significantly.
This was primarily due to the passive behavior of investors.
Earlier, the Crypto.ru team reported: Binance Japan representative Tsuyoshi Chino noted that stablecoins can be considered an important link between the traditional market and the digital asset segment. The expert voiced a similar opinion during an interview with CoinDesk. The specialist believes that at the moment stablecoins play a crucial role in shaping the global financial system.
Chino also commented on Binance’s re-entry into the Japanese market. He noted that the volatility of the crypto market makes it possible for a certain group of investors to earn money, but it cannot become the basis for the development of large-scale demand for digital assets. That is why stablecoins are really important for retail consumers.
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