Polygon MATIC and the US Debt Ceiling

1 Jun 2023

Negotiators from Democratic and Republican parties finalized an agreement on Sunday night.
Instead of raising the limit to a specific level, they have opted to suspend it entirely until 2025. This strategic move ensures that their bills can be paid until that date, while also guaranteeing that the next battle to raise the ceiling will not coincide with the upcoming presidential election.

The resolution of the debt ceiling issue brings optimism and stability to the financial landscape, which has a positive ripple effect on the cryptocurrency market.

Bitcoin and the broader crypto market stand to benefit from increased investor confidence, reinforced safe-haven status, enhanced institutional adoption, regulatory clarity, and the overall positive impact on global markets.

MATIC/USDT short
Entry Range: $0.85 - 9.91
Take Profit 1: $0.97
Take Profit 2: $1.10
Take Profit 3: $1.24
Stop Loss: $0.78