10x Research Founder: US Consumers Are Reaching the Limit of Their Borrowing Ability, Could Pose Challenges for Cryptocurrency Markets

Bitcoin is at risk due to slowing growth in U.S. consumer debt and rising credit card delinquencies, according to CoinDesk. 10x Research founder Markus Thielen said that while the unwinding of yen carry trades may have been paused, stabilizing risky assets including Bitcoin, the slowdown in U.S. consumer borrowing is still a concern. in June total U.S. credit balances rose by $8.9 billion, below expectations of $10 billion, and credit card debt fell by $1.7 billion, the largest drop since early 2021. Credit card delinquencies reached 10.93%, the highest since 2012, and auto loan delinquencies reached 4.43%, the highest since 2021.Thielen noted that these factors indicate that U.S. consumers are reaching the limits of their borrowing capacity, which could pose a challenge to the cryptocurrency market. In addition, uncertainty over the U.S. election, a slowing economy and a waning artificial intelligence boom are also potential risks.