{"id":23127,"date":"2023-05-25T12:47:12","date_gmt":"2023-05-25T12:47:12","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/05\/25\/blockchain-com-ceo-warns-of-bitcoin-crypto-selloff-after-debt-ceiling-deal\/"},"modified":"2023-05-25T12:47:12","modified_gmt":"2023-05-25T12:47:12","slug":"blockchain-com-ceo-warns-of-bitcoin-crypto-selloff-after-debt-ceiling-deal","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/05\/25\/blockchain-com-ceo-warns-of-bitcoin-crypto-selloff-after-debt-ceiling-deal\/","title":{"rendered":"Blockchain.com CEO Warns Of Bitcoin, Crypto Selloff After Debt Ceiling Deal"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>Cryptocurrencies together with Bitcoin and Ethereum can witness huge selloffs subsequent week because the US debt default deadline nears, Blockchain.com CEO mentioned on Thursday. Stocks and crypto costs will even fall after a debt ceiling deal because the US Treasury Department expects to <a href=\"https:\/\/coingape.com\/stocks-and-crypto-may-crash-within-weeks-of-debt-ceiling-deal-heres-why\/\" target=\"_blank\" rel=\"noopener\">issue $700 billion in Treasury bills<\/a> to make up misplaced funds this quarter.<\/p>\n<h2>US Debt Situation To Bring Crypto Market Correction<\/h2>\n<p>During the Qatar Economic Forum <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/BloombergLive\/status\/1661641324720955392\" target=\"_blank\">organized<\/a> by Bloomberg, Blockchain.com CEO Peter Smith mentioned US default or recession will even influence crypto initially. However, crypto costs will get better after a brief interval.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<blockquote>\n<p>\u201cOn a long horizon, these are probably good for crypto\u2026If the U.S. government defaults, we\u2019ll probably see a quick pull-back and then a very strong push upward in the crypto market.\u201d<\/p>\n<\/blockquote>\n<p>Smith additionally agreed that the crypto market recovering slowly this yr and 2024 can be an enormous yr for crypto Bitcoin halving will occur in April.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#8220;I think the crypto market is going to be much bigger in the future than it is today,&#8221; <a href=\"https:\/\/twitter.com\/blockchain?ref_src=twsrc%5Etfw\">@blockchain<\/a>&#8216;s <a href=\"https:\/\/twitter.com\/OneMorePeter?ref_src=twsrc%5Etfw\">@OneMorePeter<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/QatarEconomicForum?src=hash&amp;ref_src=twsrc%5Etfw\">#QatarEconomicForum<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/%D9%85%D9%86%D8%AA%D8%AF%D9%89_%D9%82%D8%B7%D8%B1_%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A?src=hash&amp;ref_src=twsrc%5Etfw\">#\u0645\u0646\u062a\u062f\u0649_\u0642\u0637\u0631_\u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a<\/a> <a href=\"https:\/\/twitter.com\/jennzaba?ref_src=twsrc%5Etfw\">@jennzaba<\/a> <a href=\"https:\/\/t.co\/WneSNQr6iV\">pic.twitter.com\/WneSNQr6iV<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>\u2014 Bloomberg Live (@BloombergLive) <a href=\"https:\/\/twitter.com\/BloombergLive\/status\/1661651425150263296?ref_src=twsrc%5Etfw\">May 25, 2023<\/a><\/p>\n<\/blockquote>\n<p>Blockchain.com can also be contemplating an enlargement of its small Middle Eastern workplace in Dubai, the United Arab Emirates. Dubai regulators and digital asset laws are progressive in crypto adoption. Blockchain.com gained approval from Virtual Assets Regulatory Authority (VARA) in September.<\/p>\n<p>If the debt ceiling deal between President Joe Biden and Republicans failed, will probably be \u201ccatastrophic\u201d for the worldwide market. However, if the deal is reached, it is going to pull liquidity out of monetary markets.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Moreover, the <a href=\"https:\/\/coingape.com\/glossary\/federal-reserve-system\/\" target=\"_blank\" rel=\"noopener\">US Federal Reserve<\/a> to pivot this yr. Fed officers are calling for <a href=\"https:\/\/coingape.com\/us-fed-officials-favor-raising-interest-rates-over-6-is-btc-crash-imminent\/\" target=\"_blank\" rel=\"noopener\">two more hikes<\/a> as inflation stays greater and the roles market continues to be tight.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p><strong>Also Read: <\/strong><a href=\"https:\/\/coingape.com\/bitcoin-crypto-slides-as-fitch-puts-us-rating-watch-negative-on-debt-ceiling-standoff\/?utm_source=priceanalysisbar\">Bitcoin, Crypto Slides As Fitch Puts US Rating Watch Negative On Debt Ceiling Standoff<\/a><\/p>\n<h2>Bitcoin Price Loses Momentum<\/h2>\n<p><a href=\"https:\/\/coingape.com\/price\/bitcoin\" target=\"_blank\" rel=\"noopener\">BTC price<\/a> briefly fell beneath the $26k stage as we speak as Bitcoin buyers panic because of political partisanship in debt ceiling talks. Bitcoin fell 2% up to now 24 hours, with the value at the moment buying and selling at $26,400. Meanwhile, the second largest crypto <a href=\"https:\/\/coingape.com\/price\/ethereum\" target=\"_blank\" rel=\"noopener\">ETH price<\/a> trades above $1800, after falling to an intraday low of $1763.<\/p>\n<p>Popular analyst Rekt Capital predicts that if Bitcoin loses the $26,200 assist then the value would drop into the decrease $20,000. The $26200 occurs to be confluent assist with the 200-week MA.<\/p>\n<figure style=\"width: 723px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"\" alt=\"Bitcoin price\" width=\"723\" height=\"513\" src=\"https:\/\/pbs.twimg.com\/media\/Fw9oWhwWwAAGmeB?format=jpg&amp;name=large\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/pbs.twimg.com\/media\/Fw9oWhwWwAAGmeB?format=jpg&amp;name=large\" alt=\"Bitcoin price\" width=\"723\" height=\"513\"\/><\/noscript><figcaption class=\"wp-caption-text dfdfdf1\">Bitcoin Price. Source: Rekt Capital<\/figcaption><\/figure>\n<p><strong>Also Read: <a title=\"Breaking: Binance Suspends Crypto Deposits As Multichain CEO Remains Missing\" href=\"https:\/\/coingape.com\/binance-suspends-crypto-multichain-ceo-remains-missing\/\" target=\"_blank\" rel=\"bookmark noopener\">Binance Suspends Crypto Deposits As Multichain CEO Remains Missing<\/a><\/strong><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA149580\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a know-how fanatic and analytical thinker, he has shared his information of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the enormous potential of those progressive future applied sciences. He is at the moment masking all the newest updates and developments within the crypto trade.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD149580\">\n<p>  The offered content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn&#8217;t maintain any accountability to your private monetary loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/blockchain-com-ceo-warns-of-bitcoin-crypto-after-debt-ceiling-deal\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Cryptocurrencies together with Bitcoin and Ethereum can witness huge selloffs subsequent week because the US debt default deadline nears, Blockchain.com CEO mentioned on Thursday. Stocks and crypto costs will even fall after a debt ceiling deal because the US Treasury Department expects to issue $700 billion in Treasury bills to make up misplaced funds [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[14],"tags":[20,3189,5961,44,24,709,3022,1210,1435],"class_list":["post-23127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-bitcoin","tag-blockchaincom","tag-ceiling","tag-ceo","tag-crypto","tag-deal","tag-debt","tag-selloff","tag-warns","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/23127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=23127"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/23127\/revisions"}],"predecessor-version":[{"id":23128,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/23127\/revisions\/23128"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/14437"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=23127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=23127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=23127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}