Reserve

April

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>The Treasury General Account (TGA) at the Federal Reserve represents the government&#8217;s checking account. For further details, see previous <a href="https://cryptoslate.com/wp-admin/post.php?post=317674&amp;action=edit">insight on TGA. </a></li>
<li>At the beginning of the year, the federal reserve was injecting liquidity into the markets and, as a result, drawing down on the U.S. treasury account.</li>
<li>It is now almost depleted; the bounce was tax day on April 18 — which saw roughly $100 billion of tax receipts. The path is not sustainable.</li>
<li>The treasury should stay solvent until the end of May — while tax receipts continue until June.</li>
<li>The spread between the 1-month and 3-month treasury bills signals concern from an investor point of view.</li>
<li>The one-month yield plummeted — showing investors&#8217; demand before a potential default. The spread widened as far as -1.859%.</li>
</ul>
<figure id="attachment_319832" aria-describedby="caption-attachment-319832" style="width: 1791px" class="wp-caption aligncenter"><img class="wp-image-319832 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/US.png" alt="1 month and 3 month yield: (Source: Trading View)" width="1791" height="765" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/US.png 1791w, https://cryptoslate.com/wp-content/uploads/2023/04/US-300x128.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/US-1024x437.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/US-768x328.png 768w, https://cryptoslate.com/wp-content/uploads/2023/04/US-1536x656.png 1536w" sizes="(max-width: 1791px) 100vw, 1791px" /><figcaption id="caption-attachment-319832" class="wp-caption-text">1-month and three month yield: (Source: Trading View)</figcaption></figure>
<figure id="attachment_319835" aria-describedby="caption-attachment-319835" style="width: 932px" class="wp-caption aligncenter"><img class="wp-image-319835 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/fre.png" alt="TGA: (Source: FRED)" width="932" height="406" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/fre.png 932w, https://cryptoslate.com/wp-content/uploads/2023/04/fre-300x131.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/fre-768x335.png 768w" sizes="(max-width: 932px) 100vw, 932px" /><figcaption id="caption-attachment-319835" class="wp-caption-text">TGA: (Source: FRED)</figcaption></figure>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/bitcoins-price-volatility-continues-amidst-u-s-debt-ceiling-uncertainty/">Bitcoin&#8217;s price volatility continues amidst U.S. debt ceiling uncertainty</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin’s price volatility continues amidst U.S. debt ceiling uncertainty

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