What does the debt limit showdown mean for bitcoin?

A default is, again, a remote possibility. But its potential impact is so huge, even the markets are already seeing little prospect. Yields on 10-year and 30-year US Treasury bonds are already rising, reflecting the increased risk of holding them. The Dow Jones Industrial Average and bitcoin have both trended downward over the past two weeks, though other uncertainties in the market make it difficult to directly link those moves to debt performance.