You are currently viewing Bitcoin Lingers Below $26.5 Amid Debt Ceiling Worries

The U.S. announced unexpectedly strong unemployment and GDP data, but crypto investors had debt ceiling negotiations on their minds, Thursday.

They recently kept bitcoin lingering under $26,500, up about 0.3% but below its most recent nearly two-week-long range between this threshold and $27,500. The largest cryptocurrency by market capitalization has lost some of its 2023 gains in recent weeks as investors wrestle with a mix of macroeconomic uncertainties, most prominently of late the U.S.’s ongoing debt limit stalemate that will determine whether the U.S. government can pay its bills. On Thursday, Republican House lawmakers reported progress in discussions with the White house, but whether the sides can reach agreement in time to avert a government default remains uncertain.

“Debt ceiling concerns are definitely weighing on BTC and crypto generally,” Riyad Carey, research analyst

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