{"id":7319,"date":"2023-06-01T04:47:26","date_gmt":"2023-06-01T04:47:26","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=7319"},"modified":"2023-07-03T04:49:20","modified_gmt":"2023-07-03T04:49:20","slug":"debt-ceiling-bill-passes-lower-house-bitcoin-continues-to-retreat-overnight","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/debt-ceiling-bill-passes-lower-house-bitcoin-continues-to-retreat-overnight\/","title":{"rendered":"Debt Ceiling Bill Passes Lower House, Bitcoin Continues to Retreat Overnight"},"content":{"rendered":"\n\n\n\n\n\n\n
Asset<\/b><\/div><\/td>\n
Price<\/b><\/div><\/td>\n
24h %<\/b><\/div><\/td>\n<\/tr>\n
Bitcoin (BTC)<\/span><\/a><\/div><\/td>\n
$27,075.57<\/span><\/div><\/td>\n
-2.22%<\/span><\/div><\/td>\n<\/tr>\n
Ethereum (ETH)<\/span><\/a>\u00a0<\/span><\/div><\/td>\n
$1,873.08<\/span><\/div><\/td>\n
-1.13%<\/span><\/div><\/td>\n<\/tr>\n
WOJAK (WOJAK)<\/span><\/a><\/div><\/td>\n
$0.00012888<\/span><\/div><\/td>\n
-25.5%<\/span><\/div><\/td>\n<\/tr>\n
\n

PARSIQ (PRQ)<\/span><\/a><\/p>\n<\/div><\/td>\n

$0.1169<\/span><\/div><\/td>\n
+13.82%<\/span><\/div><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

(as of 2:30 AM UTC, June 1, 2023)\u00a0<\/span><\/i><\/p>\n

 <\/p>\n

Overnight, Bitcoin (BTC) has hovered just above the US$27,000 mark, after seeing slow price decreases day after day this week. While Ethereum (ETH), sitting at US$1,873 at the time of writing, has seen a 1.13% price drop in the last 24 hours, it has followed a different pattern, and has exhibited both positive and negative fluctuations in price, as well as a less dramatic dive in price when compared to Bitcoin (BTC) since Monday.<\/span><\/p>\n

Meanwhile, traders in Asia today woke up to some good news for the United States\u2019 economy, as the bill to raise the debt ceiling in the country passes its first trial in the house of representatives with overwhelming support. While it still is yet to face its next vote in the senate, this positive macroeconomic movement has caught the attention of both crypto and traditional investors.\u00a0<\/span><\/p>\n

In the same country, top Federal Reserve official Loretta Mester <\/span>said in a quote to the Financial Times <\/span><\/a>last night that \u2018there is no reason to wait [to raise interest rates]\u2019 – expressing her opinion that as inflation continues to rise, the Fed must continue to take measures, including raising interest rates, to combat it. Her comments are seen by many analysts as the part of the cause of BTC\u2019s drop in price following, and raise fears of another interest rate hike amongst continued high inflation in the US.\u00a0<\/span><\/p>\n

As Bitcoin (BTC) continues to waver, investors wait to see whether the cryptocurrency manages to settle at the US$27,000 benchmark, or if further dives in price are coming for the coin. As always, time will tell.\u00a0<\/span><\/p>\n

 <\/p>\n

Trade Bitcoin on BTSE <\/span>here<\/span><\/a>.<\/span><\/p>\n

Join our Telegram news channel <\/span>here<\/span><\/a>.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\n

Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0<\/i>feedback@btse.com<\/i><\/a> or on Twitter @BTSE_Official.<\/i><\/p>\n

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Asset Price 24h % Bitcoin (BTC) $27,075.57 -2.22% Ethereum (ETH)\u00a0 $1,873.08 -1.13% WOJAK (WOJAK) $0.00012888 -25.5% PARSIQ (PRQ) $0.1169 +13.82%               (as of 2:30 AM UTC, June 1, 2023)\u00a0   Overnight, Bitcoin (BTC) has hovered just above the US$27,000 mark, after seeing slow price decreases day after day this […]<\/p>\n","protected":false},"author":1,"featured_media":7342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-7319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis"],"yoast_head":"\nDebt Ceiling Bill Passes Lower House, Bitcoin Continues to Retreat Overnight — BTSE Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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