Bitcoin

Impact

<p style="text-align: justify;">The long-awaited unemployment data from the US has finally been released, and the global sector’s response is now clear. The expectation for ongoing <strong>unemployment insurance claims</strong> was set at 1,729K, but the data fell below expectations at 1,754K. <strong>Claims for unemployment benefits</strong> also came in below expectations at 228K, resulting in a better outcome than anticipated. So, how will this situation affect cryptocurrencies and <a href="https://en.coin-turk.com/cryptocurrency-ecosystem-recovers-memecoins-show-mixed-growth/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/federal-reserve-signals-continue-hiking-rates-implications-for-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>)?</p> 
<h2 id="how-does-us-data-impact-btc">How Does US Data Impact BTC?</h2> 
<p style="text-align: justify;">Especially the lower-than-expected claims for unemployment benefits from the US can have a positive impact on cryptocurrencies and Bitcoin. A decrease in claims for unemployment benefits is considered a sign of economic recovery and is generally seen as a signal of increased investor confidence.</p> 
<p style="text-align: justify;"><a href="https://en.coin-turk.com/signal-of-a-fall-comes-from-a-giant-crypto-bull/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a>currencies are known as digital assets that operate independently of the traditional financial system, but unemployment data has a universal impact. A positive development in economic indicators is usually associated with a rise in the cryptocurrency market, and the current situation supports this notion. The low number of claims for unemployment benefits will be interpreted as a positive signal for economic recovery and growth.</p> 
<h2 id="btc-price-movement">BTC Price Movement</h2> 
<p style="text-align: justify;">The leading cryptocurrency Bitcoin gained a 1% increase within the last hour following this news, strengthening its position above $30,000. Strengthening and increasing support above $30,000 for the BTC price will undoubtedly have a similar effect on other altcoins. However, the fact that ongoing unemployment insurance claims exceeded expectations indicates that there is still an ongoing unemployment problem and employment issues. A decrease in the number of these claims next month, similar to the decrease in claims for unemployment benefits, will be the biggest sign of economic recovery.</p> 
<h5>The post <a href="https://en.coin-turk.com/us-unemployment-data-released-whats-the-impact-on-bitcoin-btc-and-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">US Unemployment Data Released: What’s the Impact on Bitcoin (BTC) and Cryptocurrencies?</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS.</a></h5>

US Unemployment Data Released: What’s the Impact on Bitcoin (BTC) and Cryptocurrencies?

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