July 1 (Cointime) - The US Treasury Department has quietly replenished its cash balance to $500 billion within a month of the Biden-McCarthy debt ceiling agreement, but this has not yet affected the net liquidity of the US dollar.

The global crypto market cap has risen to $1.20 trillion, with Bitcoin and Ethereum reaching yearly highs due to support from financial giants such as BlackRock and Fidelity. The US Treasury is looking to add another $1 trillion over the next six months, but the current TGA balance is not impacting risk assets or US dollar liquidity. Crypto analysts and Bloomberg analysts are bullish on Bitcoin price hitting $40,000 in July or early August.