TechFlow news, December 30 — According to CoinDesk, analyst James Van Straten stated that Treasury Secretary Janet Yellen expects the U.S. debt ceiling to be reached between January 14 and January 23. Yellen urged Congress to act promptly to protect America's creditworthiness. Historically, raising the debt ceiling has typically been a negative signal for Bitcoin; in the past five similar instances, Bitcoin declined or underperformed in the days following. Currently, Bitcoin’s performance in December has also been weak, down 3%, and it may record its first monthly loss since August.
Additionally, Donald Trump’s inauguration is scheduled for January 20, further increasing political and economic uncertainty. Since the FTX collapse in 2022, Bitcoin’s performance has mirrored the previous two cycles, approaching a 500% return. However, historical data indicates that significant pullbacks commonly occur at this stage of the cycle, which might suggest Trump’s inauguration date could mark a bottom signal for Bitcoin.
