Bitcoin Edges Below $28K as Investors Watch US Debt Ceiling Progress

“So far, bitcoin has moved in lockstep with liquidity,” Dasislava Ianeva, research analyst at cryptocurrency data firm KAICO, told CoinDesk. Ineva said quantitative tightening (QT), which typically occurs when the central bank seeks to reduce its balance sheet, “was partially offset by the Treasury spending its cash in the Fed and bank term funding programs.” , but that push is now over.”