Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-react-to-bitcoin-price-drop-and-fed-announcements/" data-wpel-link="internal">Investors React to Bitcoin Price Drop and Fed Announcements</a> 
This week was expected to be very active, and <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> were fully aware of it. However, we started faster than expected. The MTGOX <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> caused the price of <a href="https://en.coin-turk.com/exploring-bitcoins-potential-surge-wolfe-researchs-market-analysis/" data-wpel-link="internal">Bitcoin</a> (BTC) to fall below $61,000, confirming that investors have been rightfully avoiding risk for days. GDP and PCE data could further increase volatility this week. So, what do the Fed announcements say? 
<h2 style="text-align: justify" id="fed-announcements">Fed Announcements</h2> 
The GDP data midweek will show the growth of the US economy, while the PCE data coming on Friday will give everyone an idea about the fight against inflation. If the GDP is in line with expectations and the PCE is below expectations, the belief may form in risk markets that the Fed (with the support of the latest inflation data) will definitively cut rates by September or in September. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-364608 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/BTCUSDT_2024-06-24_15-44-10.png" alt="" width="1297" height="597"> 
Fed member Goolsbee was speaking at the time of writing, and the key points of his statements are as follows: 
<blockquote> 
 “Fed policy is restrictive. Slowing inflation data could open the door to easier policy. I am optimistic that we will see improvement in inflation data. I hope the Fed will have more confidence that inflation will return to 2%. The real economy does not show traditional overheating. We must consider the restrictiveness compared to other economies. Apart from inflation data, the economy shows signs of cooling.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-react-to-bitcoin-price-drop-and-fed-announcements/" data-wpel-link="internal">Investors React to Bitcoin Price Drop and Fed Announcements</a></h5>

Investors React to Bitcoin Price Drop and Fed Announcements

Table of Contents

COINTURK NEWS

Other articles published on Jun 24, 2024

BitDoge Memecoin Launches Presale on Bitcoin Network

Fundbit.com Launches Comprehensive Cryptocurrency Exchange Platform

Bitcoin Targets $90,000 This Summer: Get Ready for the Price Rally

Hedera (HBAR) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Marathon’s New Bitcoin Mining Project to Heat Up Entire Town in Finland

German Government’s Bitcoin Holdings Reach $3.24 Billion After Sales

Join our free newsletter for daily crypto updates!