Bitcoin Price Forecast Aligns With US Debt Default Plans; Here's How

Crypto Market News: Janet Yellen, the US Treasury, on Wednesday acknowledged there was some stress in the financial markets, amid uncertainty around the impending debt ceiling deal deadline. Yellen reiterated that the US government was highly likely to run out of sufficient cash in early June 2023. Meanwhile, top Republican Kevin McCarthy said earlier on Wednesday that there was no progress in the talks since his meeting with US President Joe Biden. Any indication of failure to reach the deal before the June 1 deadline could potentially lead to financial markets catastrophe, similar to that of the July 2011 market crash.