and the overall crypto market could follow the 2024 trend and top out in March before entering an extended correction.
Hayes added that both developments would be a net negative for US liquidity, stalling risk on assets like BTC. In his latest “Once default and shutdown are imminent, a last-minute deal will be reached, and the debt ceiling will be raised. At that point, the Treasury will be free to borrow on a net basis again and must refill the TGA. This will be dollar liquidity negative.”
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