Cryptocurrency

Strong

Bitcoin

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/us-service-and-manufacturing-pmi-data-influence-cryptocurrency-markets/" data-wpel-link="internal">US Service and Manufacturing PMI Data Influence Cryptocurrency Markets</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrency</strong> prices and general markets are significantly influenced by the US Service PMI and Manufacturing PMI data. What will be the impact on the general markets, especially <a href="https://en.coin-turk.com/bitcoin-analyst-warns-of-potential-correction-altcoins-at-risk/" data-wpel-link="internal">Bitcoin</a> (BTC), after the release of these key data? The latest status of the US data eagerly awaited by investors!</p> 
<h2 id="key-data-from-the-us">Key Data from the US</h2> 
<p style="text-align: justify">The leading <strong>cryptocurrency</strong> <strong>Bitcoin’s</strong> <strong>price</strong> has been significantly affected by similar US data in the past. Historical <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> that the Federal Reserve’s income data and interest rate announcements have often caused price drops in the cryptocurrency. Additionally, the strengthening of the US dollar generally leads to a decline in the cryptocurrency markets. This is attributed to investments being redirected to a strong US dollar. Here is the latest status of the anticipated US data!</p> 
<p style="text-align: justify">The eagerly awaited US Service PMI in the cryptocurrency and general markets was announced minutes ago. The expected US Service PMI was 51.5, the previous <strong>data</strong> was 51.3, and the newly announced report shows it at 54.8. The expected US Manufacturing PMI was 50.1, the previous was 50, and the announced figure is 50.9. These data are critical for the US economy and important for cryptocurrency markets. According to <strong>crypto</strong> experts, these data could have significant impacts on cryptocurrencies in the coming days. Additionally, a strong US economy could influence the Federal Reserve’s future interest rate decisions.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-354948 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/IMG_9002-scaled.jpeg" alt="" width="2560" height="1140"></p> 
<h2 id="impact-on-bitcoin">Impact on Bitcoin</h2> 
<p style="text-align: justify">According to crypto experts, a strengthening US economy could lead to a rise in the dollar index, causing a decline in the general market, especially Bitcoin. Conversely, a weakening US economy could result in gains for risky assets like Bitcoin. Additionally, the Federal Reserve’s announcement of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a> yesterday had a significant impact on the general market and cryptocurrencies. As a result, this week is a critical period for the <strong>cryptocurrency</strong> markets.</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/us-service-and-manufacturing-pmi-data-influence-cryptocurrency-markets/" data-wpel-link="internal">US Service and Manufacturing PMI Data Influence Cryptocurrency Markets</a></h5>

US Service and Manufacturing PMI Data Influence Cryptocurrency Markets

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