Bitcoin

Ran Neuner, the co-founder, and CEO of the crypto asset and blockchain investment fund, Onchain Capital, recently shared his insights on the US debt ceiling’s impact on the leading cryptocurrency Bitcoin (BTC), asserting that BTC would meltdown. The popular crypto YouTuber shared his BTC analysis in a <a href="https://www.youtube.com/watch?v&#61;j_dioI0UP5M" rel="noopener noreferrer nofollow">video</a> posted on his social podcast Crypto Banter, noting that theoretically, BTC has invalidated the head and shoulders (H&amp;S) pattern.The Chartered Market Technician Crypto Birb, the CEO of CryptoNest, a top quality international trade group, also noted that the H&amp;S pattern couldn’t break down, so BTC might perform better on the other side:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ca8e1a4c474441809a98ade62a83a63f.png" />The CNBC crypto trader added that the debt ceiling is an absolute disaster for the crypto market, and if Birb is right, BTC would touch $31,000 to $32,000. The analyst showed the BTC/USDT chart on the ByBit exchange and reasoned that the BTC price pump might be a result of multiple shorts squeezes, as <a href="https://twitter.com/DaanCrypto/status/1663131317549285377" rel="noopener noreferrer nofollow">proclaimed</a> by crypto analyst Daan Crypto. Notably, the price of BTC <a href="https://www.bloomberg.com/news/articles/2023-05-29/bitcoin-btc-jumps-to-more-than-two-week-high-on-relief-over-us-debt-ceiling#xj4y7vzkg" rel="noopener noreferrer nofollow">reportedly</a> rose 3.2% on Monday, which is a massive hike when compared to its two-week high after the investor sentiment got relief from the US debt ceiling deal.Read full article at<a href="https://cryptotale.org/us-debt-ceiling-melts-bitcoin-explains-crypto-analyst/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

US Debt Ceiling Melts Bitcoin: Explains Crypto Analyst

CryptoTale

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