Bitcoin (BTC) continued its downward consolidation Tuesday, dipping just below $27,000 as investors closely watch the debt ceiling talks in Washington.

The largest cryptocurrency by market capitalization recently traded at $26,950, down about 1.3 percent for the day, according to CoinDesk. Over the past 24 hours, the price of BTC has fluctuated between $26,800 and $27,400.

The U.S. is projected to surpass the debt ceiling as early as June 1, and said a default “could lead to a recession,” some analysts believe that addressing the debt ceiling issue could help bitcoin rise.