Bitcoin

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-remains-steady-despite-economic-report/" data-wpel-link="internal">Bitcoin Price Remains Steady Despite Economic Report</a> 
<a href="https://en.coin-turk.com/analysis-of-the-surge-in-bitcoin-funding-rates/" data-wpel-link="internal">Bitcoin</a> price did not react much to the report and continues to hover around $67,400. The US economy is not in a better place than at the beginning of this year. As fighting inflation becomes increasingly difficult, signs of economic fragility may tie the Fed’s hands or trigger a major collapse. 
<h2 style="text-align: justify" id="fed-beige-book">Fed Beige Book</h2> 
The importance of macroeconomic developments for cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> has increased significantly in recent years. Today’s report is important for the markets as it sheds light on the economic outlook of US states. We can briefly summarize the notable sections of the report as follows: 
<ul style="text-align: justify"> 
 <li>The overall outlook became slightly more pessimistic amid reports of increasing uncertainty and greater downside risks.</li> 
 <li>National economic activity continued to expand from early April to mid-May. However, conditions varied by sector and region.</li> 
 <li>Employment generally increased at a slight pace. Eight states reported insignificant or modest employment growth, while the remaining four states reported no change in employment.</li> 
 <li>Retail sales indicate a decline in discretionary spending.</li> 
</ul> 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-357413 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/Fed-bej-kitap-29-mayis.png" alt="" width="570" height="307"> 
The signal of weakening spending is positive, and if the PCE <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> on Friday also comes in well, we may see concerns about stagflation and sticky inflation weaken if the GDP data also meets expectations. This is positive for risk markets, including cryptocurrencies. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-remains-steady-despite-economic-report/" data-wpel-link="internal">Bitcoin Price Remains Steady Despite Economic Report</a></h5>

Bitcoin Price Remains Steady Despite Economic Report

Table of Contents

COINTURK NEWS

Other articles published on May 29, 2024

DTCC, FMI Partners To Review Regulations With $16 Trillion Digital Asset Vision Plan

Judge Torres’ Final Decision is Awaited: Can XRP Go $1 Price Mark?

Chainlink (LINK) and Ripple’s XRP Charts Prepare for 3X Price Surge and God Candle Price Action f...

Kaspa (KAS) Versus PEPE Meme Coin: Which Will Provide Higher Returns on Investment?

BONK Price Up By 20%; Will This Memecoin Hit ATH?

Mastercard Crypto Credential Transaction Solution Officially Launched

Join our free newsletter for daily crypto updates!