Bitcoin and Ether struggle amidst debt ceiling concerns.

Bitcoin and Ether both fell over 3% as investors worried about the debt ceiling and the Federal Reserve's next move, coinciding with a drop in U.S. equities. Bitcoin and Ether are on pace for their worst month of 2021, down 10% and 6%, respectively. As investors monitor the ongoing debt ceiling negotiations in Washington and investors' rate hike expectations move up, bitcoin has started behaving like a risk asset again, just as it was starting to trade more in tandem with gold earlier this year.