Bitcoin's Price Volatility Continues Amidst Regulatory and Political Uncertainty.

Bitcoin's price has dropped below $27,000 as investors weigh the ongoing debt ceiling talks in Washington, D.C. and the latest regulatory moves. Over $20 million of BTC futures were liquidated in the past four hours, with 87% of them being long positions, or bets on higher prices. The second-largest cryptocurrency by market capitalization, Ether (ETH), followed a similar trend, down 1.6% to change hands at around $1,795 on Thursday afternoon. Investors are awaiting regulatory clarity and whether Wall Street believes any use-case arguments will be made anytime soon. Meanwhile, investors are pivoting their attention toward BTC’s 2024 halving cycle that “typically precedes a bull market in crypto.”