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Crypto markets slide as investors eye economic conditions amid debt ceiling deal

  • House Republicans reached a tentative deal with the White House to raise the nation's debt ceiling and avoid a default, causing cryptocurrencies to climb
  • Bitcoin and ether are on pace for their worst month since November, down 5% and up less than 1%, respectively
  • JPMorgan analysts have issued a bullish bitcoin price prediction that could see bitcoin's capitalization climb to near $900 billion
  • JPMorgan analysts warn that the ethereum price could face selling pressure over the next few months due to its recent Shanghai upgrade
  • Over $1.3 trillion has been lost in the cryptocurrency market in 2022 due to the FTX collapse
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