The ongoing debt ceiling talks in the United States are expected to impact the S&P 500, DXY, and cryptocurrency markets in the near term. JPMorgan Chase CEO Jamie Dimon has warned that a possible sovereign default by the US government could create panic in the stock markets, resulting in heightened volatility. Bitcoin could be the third-most preferred asset class behind gold and US Treasuries should the US government fail to prevent a debt default, according to Bloomberg’s latest Markets Live Pulse survey.
– The ongoing debt ceiling talks in the United States are expected to impact the S&P 500, DXY, and cryptocurrency markets in the near term.
– Bitcoin could be the third-most preferred asset class behind gold and US Treasuries should the US government fail to prevent a debt default.
– JPMorgan Chase CEO Jamie Dimon has warned that a possible sovereign default by the US government could create panic in the stock markets, resulting in heightened volatility.
– The S&P 500 Index has been trading near the 20-day exponential moving average (EMA) at 4,118 for the past few days.
– The U.S. Dollar Index (DXY) has managed to sustain above the 20-day EMA and cleared the overhead hurdle at the 50-day SMA.
– Bitcoin is trying to force its way back into the symmetrical triangle pattern, suggesting strong buying at lower levels.
– Ether has turned up from the 50% Fibonacci retracement level of $1,754 and is currently trading near the 20-day EMA.
– BNB has reached the moving averages, indicating that the $300 level is proving to be a strong support.
– XRP has been trading below $0.43 for the past few days, but the bulls have not allowed the bears to extend the decline further.
– Cardano’s recovery has reached the 20-day EMA ($0.37), which is an important level to keep an eye on in the near term.
– Dogecoin has successfully guarded the $0.07 support level for the past few days, indicating solid demand at lower levels.
– Solana’s rebound off the strong support at $19.85 is nearing the downtrend line, which is likely to act as a strong hurdle for the bulls in the near term.
– Polygon is attempting to start a recovery that is likely to reach the breakdown level of $0.94.
