Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/us-economic-data-influences-bitcoin-price/" data-wpel-link="internal">US Economic Data Influences Bitcoin Price</a><br></p>
<p style="text-align: justify">The cryptocurrency world was focused on two critical <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> releases from the US today. The US Gross Domestic Product (GDP) data and the US unemployment claims data were just released. Before the data was announced, <a href="https://en.coin-turk.com/cme-bitcoin-futures-rise-above-40000-indicating-an-upward-trend/" data-wpel-link="internal">Bitcoin</a> was trading at around $68,050. Let’s take a look at the data and the Bitcoin <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">price</a>.</p> 
<h2 style="text-align: justify" id="two-critical-data-points-from-the-us">Two Critical Data Points from the US</h2> 
<p style="text-align: justify">The recently released US Gross Domestic Product (GDP) data came in at 3.1%. The expectation for the data was also 3.1%. On the other hand, the second data point was the US unemployment claims data. According to this, the figure was announced as 219,000. The expectation for this data was 218,000.</p> 
<p style="text-align: justify">Before moving on to the Bitcoin price after the data, BTC is preparing for potential volatility as it approaches the critical range of $67,000 to $69,000. After the data, Bitcoin was trading at $68,135, on the border of this important region. If Bitcoin’s price enters this range, a significant increase in liquidation volume is expected, which could create considerable volatility.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-357719 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/BTCUSD_2024-05-30_15-32-28.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">Specifically, this situation is likely to lead to downward volatility, increasing the risk of a price drop. Conversely, if Bitcoin rises above $69,000, it could reverse the bearish trend and trigger upward volatility.</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-economic-data-influences-bitcoin-price/" data-wpel-link="internal">US Economic Data Influences Bitcoin Price</a></h5>

US Economic Data Influences Bitcoin Price

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