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Legendary trader Peter Brandt predicts potential Bitcoin price downfall amid U.S. debt ceiling dilemma and market volatility. Despite being bullish on a $40,000 target, bearish sentiment increases. Brandt, known for accurate past analyses, warns against dismissing downside risks and overconfidence in price predictions.

The future of centralized exchanges like Hotbit and Bittrex seems uncertain amid deteriorating operating conditions, collapsing institutions, and increased regulation. As the crypto industry grapples with centralization versus decentralization, alternatives like holding one’s own crypto or trading on decentralized exchanges gain momentum. Reevaluation of existing models and exploration of options addressing operational and security concerns are essential for the crypto ecosystem’s maturity and adaptability.

A bearish market structure has reduced the cryptocurrency market capitalization to $1.13 trillion, with derivative metrics indicating a struggle for crypto bulls to break the downtrend. The U.S. debt ceiling standoff adds uncertainty, causing hesitancy among traders to bet on the market until more clarity is achieved. Derivatives metrics suggest bears remain in a comfortable position for now.

A delay in pivotal discussions between U.S. President Joe Biden and House of Representatives Republicans has left the financial market, including the crypto market, feeling uncertain. The 24-hour crypto trading volume decreased by 23% as participants await clarity on raising the federal $31.4 trillion debt ceiling.

The ongoing battle between the SEC, Coinbase, and other cryptocurrency firms highlights the intersection between politics and the legal system in shaping the future of digital asset markets. The outcome of these legal skirmishes will undoubtedly have a lasting impact on the cryptocurrency markets, making it essential for investors to stay informed.

Bitcoin payment provider Strike expands services to 65 countries and relocates global headquarters to crypto-friendly El Salvador. This move combats complexities in the crypto landscape and the growing anti-crypto regulatory sentiments in the U.S., while promoting innovation and financial freedom in the emerging digital asset market.

The surge in popularity of tokenized money market funds indicates a shift in the perception and utilization of crypto investments. Offering relatively safe ways to earn a yield, these funds attract digital asset investment funds, crypto companies, and DAO treasuries, signifying a continued merging of blockchain technology with traditional finance.

The U.S. stock market experienced a sharp recovery, while Bitcoin’s short-term outlook remains uncertain. Analysts express long-term bullish sentiments, with the possibility of “hyperbitcoinization” driving Bitcoin demand and price. As the battle between bullish and bearish forces continues, observing crypto performance and staying informed is crucial for investment decisions.

Bitcoin holds below $27,000 as Federal Reserve Chair Jerome Powell indicates that credit stress in the banking sector might soften interest rate hikes, triggering a surge in BTC price. Powell’s statement impacts economic growth, hiring, and inflation, affecting upcoming interest rate decisions and the evolving economic outlook. This highlights the delicate balance between market factors and implications for cryptocurrency and the wider financial system.

Ripple adds former Amazon CFO Warren Jenson to its Board of Directors amidst ongoing SEC lawsuit. Despite legal struggles, Ripple unveils Ripple CBDC Platform and partners with Hong Kong Monetary Authority for e-HKD Pilot Programme, showcasing resilience and growth in the crypto space.

India’s financial landscape is changing as the Reserve Bank of India (RBI) withdraws ₹2000 denomination banknotes from circulation, while the country explores central bank digital currency (CBDC) with the E-Rupee Pilot Project. This raises questions about the impact on the burgeoning cryptocurrency market and the coexistence of CBDCs and cryptocurrencies in a more inclusive financial system.

MIAX, a subsidiary of Miami International Holdings, completed its acquisition of LedgerX, a regulated exchange and clearinghouse. This move supports MIAX’s growth strategy, allowing for the expansion of its capacity to introduce innovative products into the swaps and futures industry.

The U.S. debt ceiling crisis raises concerns about the stability of the dollar and the future of fiat currencies, potentially presenting an opportunity for the crypto market. Digital currencies like Bitcoin and Ethereum may serve as hedges against traditional financial markets and economic instability, while decentralized finance platforms could see increased activity.

Amid mixed crypto market expectations, US Fed Chairman Jerome Powell discussed the US banking system’s strength and resilience to support liquidity without compromising monetary policy. Investors must stay vigilant as decisions made by the Fed and central banks’ involvement in cryptocurrency could impact market sentiment and regulations.