Bitcoin drops below US$28,000, Tron’s deflation slows losses

Bitcoin couldn’t maintain its Monday morning gains as the world’s largest cryptocurrency dropped below US$28,000 in the afternoon.

• 2023-05-29
• market capitalization TRX Hong Kong President Joe Biden cryptocurrency tentative agreement Kevin Mccarthy

US Debt Ceiling Deal Blocks 30% Bitcoin Mining Tax: Congressman

The proposed Digital Asset Mining Energy tax has reportedly been taken off the table, according to U.S. Congressman Warren Davidson.

• 2023-05-29
• Joe Biden Bitcoin mining debt ceiling cryptocurrency mining Satoshi Action Fund Energy tax Biden administration excise tax Kevin McCarthy

Bitcoin back above US$28,000 as cryptos rebound on US debt ceiling talks

Bitcoin moved back above US$28,000 on Monday morning in Asia, leading a rally among all top 10 non-stablecoin tokens. Ether reclaimed the US$1,900 level.

• 2023-05-29
• debt ceiling Kevin Mccarthy President Joe Biden debt default

Bitcoin and Ethereum Rise as U.S. Lawmakers Scramble to Dodge Historic Debt Default

The potential compromise comes as America’s “X-date” approaches quickly.

• 2023-05-29
• President Joe Biden Capitol Hill Kevin McCarthy debt ceiling Janet Yellen White House agreement in principle

Weekly Market Wrap: Bitcoin trades below US$27,000 amid U.S. debt ceiling negotiations

Bitcoin traded below the US$27,000 mark for most of the week, as investor sentiment was weighed down by the prospect of the U.S. government’s potential default. Investors will be closely monitoring the ongoing debt ceiling negotiations.

• 2023-05-19
• debt ceiling Bitcoin U.S. Treasury Department market capitalization Kevin McCarthy Hong Kong President Joe Biden Core inflation