Debt ceiling standoff threatens Bitcoin and US dollar stability.

Bitcoin's price may drop to $20,000 in Q3 due to a potential liquidity crisis triggered by the US Treasury Department's plan to raise the debt ceiling, warns risk management firm Penso Advisors. The Treasury's cash pile could increase from $95 billion in May to $600 billion by the end of Q3, leading to a sudden drain of liquidity that could negatively affect risk markets like equities, credit, and cryptocurrencies. Independent market analysts predict that Bitcoin's price will remain rangebound between $20,000 to $30,000, with a possible correction towards the 200-day EMA near $25,000 if the Fed hikes by 25 basis points in June.