Bitcoin

Impact

Critical data that is as important for cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> as the Fed meeting has just been announced. So, what’s the situation? Although the price of <a href="https://en.coin-turk.com/navigating-the-turbulence-analyzing-bitcoins-struggles-in-the-bear-market-and-the-future-of-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> reached new highs in November 2023, it experienced a slight pullback due to profit-taking. We are entering the last two months of the year, and the importance of future data in the macro landscape is increasing for investors.
<h2 style="text-align: justify" id="dollar-bitcoin-and-cryptocurrencies">Dollar, Bitcoin, and Cryptocurrencies</h2>
Fed has now halted interest rate hikes, and Powell has sent a message that there will be no further interest rate hikes unless there is a significant negativity. This is quite important and highlights the risk of changing interest rate expectations depending on future data. If the Fed continues to gradually reduce inflation and weaken employment, we may see the strengthening of risk markets through interest rate cuts starting from the middle of next year.
<img decoding="async" loading="lazy" class="size-full wp-image-273146 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/Fed-Aralik-Faiz-Beklentisi.png" alt="" width="1512" height="715">
Today, Average Hourly Earnings, Non-Farm Payrolls, and Unemployment Rate data have been announced. These data provide insights into the current state of the US economy and can shape the decisions to be made at the Fed’s December meeting.
Before the release of the data, the expectation for the December 13 interest rate decision was that it would remain unchanged with an 80% probability. So, how did the data come out?
<ul style="text-align: justify">
 <li>Average Hourly Earnings (Announced: 4.1% Previous: 4.2%)</li>
 <li>Non-Farm Payrolls (Announced: 150K Expectation: 180K Previous: 336K)</li>
 <li>Unemployment Rate (Announced: 3.9% Expectation: 3.8% Previous: 3.8%)</li>
</ul>
The data came out in favor of cryptocurrencies. Bitcoin (<a href="https://en.coin-turk.com/bitcoin-etf-approval-analysts-believe-the-chance-is-high/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) may rise. Continue Reading: <a href="https://en.coin-turk.com/critical-data-revealed-impact-on-bitcoin-and-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/critical-data-revealed-impact-on-bitcoin-and-cryptocurrencies/</a>

Critical Data Revealed: Impact on Bitcoin and Cryptocurrencies

Table of Contents

COINTURK NEWS

Other articles published on Nov 3, 2023

Shiba Inu (SHIB) Net Flows Skyrocket by 1,666%, Here's Implication

Bitcoin: $230M Awakens After 6 Years Alongside $150 Million in Losses

Ripple: XRP Price Prediction For The Weekend

Cardano (ADA) Forms Unexpected Support Amid 13% Price Jump

Celestia Launches With a Bang as Prices Jump Over 15%. Will These ICOs Follow a Similar Fate?

Can BlackRock Restrict Bitcoin Freedom? What’s BlackRock’s Main Goal?

Join our free newsletter for daily crypto updates!