Bitcoin (BTC-USD) and Ethereum (ETH-USD), the two biggest cryptocurrencies, were up 1.38% and 1.90% respectively at the time of publishing today after a major bout of weakness.
Prices continue to see persistent weakness across major Cryptocurrencies as the uncertainty over the U.S. debt ceiling continues to loom. While the risk of default remains minimal, traders are maintaining a cautious stance.
Amid tightening credit conditions and challenges in the banking sector, funds focused on the crypto space have been witnessing capital outflows, according to CoinShares.
Further, toughening regulatory stance regarding the industry coupled with the direct impact of the U.S. debt drama on sentiment around stablecoins is keeping traders on edge.
With today’s cautious price gains, BTC has now gained nearly 61.3% so far this year.
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