Cryptocurrency Market News: Top Republican leader Kevin McCarthy on Wednesday stated he was optimistic about getting a deal even though there is a long way to go before reaching consensus to commit to a deal on raising the debt ceiling. He addressed the concerns around the status of deal talks amid market uncertainty before the June 1, 2023 deadline, within a press conference. Significantly, he stated there may be progress made thereafter today, in the context of a halt in deal talks since his Monday meeting with United States President Joe Biden.
The United States Markets continue to feel the heat from the delay in debt ceiling deal talks since Monday, as the S&P 500 Index, Dow Jones and Nasdaq continue to trade in the red. Similarly, Bitcoin (BTC) price seems to be in bearish waters until some clarity on deal status is reached.
Kevin McCarthy: No Debt Default
Speaking at a press conference, the top Republican stated he doesn’t think there will be a defaultm and that he firmly believes the leaders will be able to get a deal. Nonetheless, he said both sides are still far apart on debt talks but can get to saying yes for a deal.
“There are still differences over spending. I am sending our negotiators down to the White House to try and finish up the talks.”