"Hopefully it can be resolved as soon as possible so that the price of crypto does not fall."
US President Joe Biden and top Republican Kevin McCarthy are set to restart talks on a debt ceiling deal as fears of a default grow.
While the crypto and stock markets are currently unaffected, JPMorgan warned investors that prices could be volatile as a default situation approaches.
While Bank of America Research revealed that the debt ceiling issue will usually cause stocks to suffer when defaults are expected to occur in two weeks.
While talking about economic developments, Goldman Sachs also said that the cash balance of the US Treasury could fall below $30 billion by eight to nine June 2023.
Even so, the US stock market saw a plunge when the initial discussion between the US President and Speaker of the House of Representatives Kevin McCarthy last Friday was not without Biden's presence, but the overall decline was curbed as the S&P continued to trade in the 4,200 range.
It is well known that a major fall in the US stock market may result in crypto markets being affected as BTC prices may slip to $25,000 or below to hit new monthly lows.
On Monday yesterday, the two leaders, Biden and McCarthy, were reported to have met to make an urgent decision regarding the debt ceiling issue that could have an impact on the global financial landscape.
