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U.S. Treasury Secretary Urges Congress To Raise Government Debt Ceiling / Bitcoin Rises To Three-Month High

 

U.S. Treasury Secretary Urges Congress To Raise Government Debt Ceiling

US Treasury Secretary Yellen said that the federal government is gradually running out of debt space, and once again urged Congress to raise the government debt ceiling as soon as possible. Yellen pointed out that raising the debt ceiling will not increase government spending, nor will it pave the way for future expenditures. This will only allow the Treasury Department to pay the expenditures that have taken effect before. Once the government fails to meet its debts, it will affect the U.S. economy and part of it. Irreparable damage to the livelihood of residents. In recent years, the U.S. Democratic and Republican parties have been arguing over negotiations to increase the debt ceiling, and the two parties often need to negotiate until the last minute to know the outcome.


Bitcoin Rises To Three-Month High

On Monday, Bitcoin gave up some of its gains over the weekend, and it has fallen by about 3.30% in 24 hours to about $43,500. Last weekend, the price of Bitcoin rose to its highest level in the past three months, at $45,300. The market believes that the main reason for pushing up the price of Bitcoin is that there were 126 large Bitcoin shorts for short covering last Friday. However, the data on the chain shows that Bitcoin is showing signs of further rise. Data from Glassnode shows that active addresses with more than 0.1 Bitcoin are at the highest value in two months. Since July 28, the number of such addresses has continued to rise. Digital asset company Zerocap said that investors holding 100 to 10,000 bitcoins are establishing long-term positions, which indicates that the structure of the bitcoin market is moving in a good direction.


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