The US debt dispute has been settled! Does this now ensure long-term positive sentiment on the markets?

Beijing has published a whitepaper to promote innovation and further develop the Web3 industry.
The “Whitepaper on Web3 Innovation and Development” was presented at the Zhongguancun Forum by the Beijing City Science and Technology Commission. According to local news platform The Paper, the document calls Web3 technology an “inevitable trend for the future development of the Internet industry.”
The commission aims to establish Beijing as a preeminent global innovation center for the digital economy and plans to allocate at least $14 million annually by 2025. Yang Hongfu, director of the Zhongguancun Chaoyang Park Management Committee, announced this funding at the forum, emphasizing that Zhongguancun is commonly known as China’s Silicon Valley.

The white paper highlights Beijing’s intention to provide more policy support and accelerate technological progress to promote the growth of the Web3 industry.
This represents a turnaround in China’s policies, which previously were not particularly positive about decentralized and transparent blockchain projects.

Bitcoin remains in an overriding sideways trend, even though the volume has been slightly depreciating in recent weeks.
The working week still ended with a positive surprise, as the new PCE data indicated that the economy is currently stronger than expected, which in turn boosted the price of the market-leading cryptocurrency.
However, the new economic data is also likely to mean that the U.S. Federal Reserve will soon be raising interest rates further after all, which in turn could create headwinds for risky financial products like BTC.
For this reason, sentiment remained subdued for the time being despite the upswing.
However, the settlement of the U.S. debt dispute subsequently created a positive mood on the markets, and a sense of relief was palpable and subsequently visible in the price developments.

The European Central Bank (ECB) published a summary of the current test results for its prototype digital euro. The tests in question tested the offline use of the central bank digital currency (CBDC) and its interoperability with various existing payment systems.
The tests were part of the second test phase in preparation for a planned pilot project for the digital euro, which is scheduled to start towards the end of the year. The second test phase ran from July 2022 to February 2023.
For the tests, the Eurosystem developed a centralized payment processing system called N€XT, which operates with Unspent Transaction Outputs (UTXO) – a methodology characteristic of cryptocurrencies. In addition to self-custodial wallets, five different payment applications from private sector providers were also included in the tests.