Cryptocurrency

Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/how-did-recent-data-impact-bitcoin-prices-2/" data-wpel-link="internal">How Did Recent Data Impact Bitcoin Prices?</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/german-bank-lbbw-partners-with-bitpanda-to-offer-crypto-services/" data-wpel-link="internal">Cryptocurrency</a></strong> markets experienced a chilly day today, affecting everyone involved. <a href="https://coin-turk.com/terawulf-2023-ilk-yarisinda-hashrate-artisiyla-btc-gelirinde-buyuk-artis" data-wpel-link="internal">Bitcoin</a> fell to $56,600, creating a shock effect among investors. Along with this drop in <a href="https://coin-turk.com/abd-hukumeti-1-trilyon-dolarlik-altyapi-paketini-finanse-etmek-icin-kripto-islemlerini-vergilendirecek" data-wpel-link="internal">BTC</a>, a decline in <a href="https://coin-turk.com/piyasa-uzmanindan-dev-altcoin-icin-2-agustos-uyarisi-cokecek" data-wpel-link="internal">altcoins</a> also occurred. The market was particularly focused on the Fed’s interest rate decision and Powell’s upcoming speech, with data from the US being awaited today. The data was just released.</p> 
<h2 style="text-align: justify" id="us-adp-non-farm-employment-change-data-announced">US ADP Non-Farm Employment Change Data Announced</h2> 
<p style="text-align: justify">The US ADP non-farm employment change data was just announced. The figure came in at 192,000, while the expectation was 179,000. It appears that the announced figure exceeded expectations. The previous figure was also revised to 208,000.</p> 
<p style="text-align: justify">It seems likely that this data will be discussed in Powell’s speech. While a rate cut is not expected today, good data could potentially ease the Fed’s position. However, the earliest start date for rate cuts could be July, as stated by JPMorgan.</p> 
<h2 style="text-align: justify" id="bitcoin-price-after-the-data">Bitcoin Price After the Data</h2> 
<p style="text-align: justify">Looking at the <a href="https://en.coin-turk.com/binance-ceo-dismisses-rumors-about-bitcoin-sale-amid-market-rumblings/" data-wpel-link="internal">Bitcoin</a> price after the data, we see that the <strong><a href="https://en.coin-turk.com/bitcoin-on-chain-transaction-volume-hits-record-high/" data-wpel-link="internal">BTC</a></strong> price is trading at $58,010. The harsh winds in BTC today have not yet subsided. We will see what happens after tonight’s Fed meeting.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-346658 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/poppe-coin-turk-com-.png" alt="" width="597" height="500"></p> 
<p style="text-align: justify">Commenting on the recent drop in Bitcoin, renowned analyst <strong>Michael van de Poppe</strong> emphasized a possible shift from Bitcoin to altcoins. The analyst expects significant increases for altcoins in the coming period.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/how-did-recent-data-impact-bitcoin-prices-2/" data-wpel-link="internal">How Did Recent Data Impact Bitcoin Prices?</a></h5>

How Did Recent Data Impact Bitcoin Prices?

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