2024

Bitcoin

when

<p>With the release of US economic data, Bitcoin finds itself once again in the spotlight. Investors are watching the flagship crypto’s reaction to macroeconomic indicators. But apparently, BTC is not too affected by the famous release.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">Bitcoin Prices Remain Stable After US Economic Data Release <a href="https://t.co/lh1FVnaLYY" rel="noopener noreferrer nofollow">https://t.co/lh1FVnaLYY</a><br><br>Follow us and stay up to date with the latest developments for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a> <a href="https://twitter.com/hashtag/cryptomarket?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptomarket</a> <a href="https://twitter.com/hashtag/cryptocurrencynews?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptocurrencynews</a></p>— COINTURK NEWS (@Cointurknews) <a href="https://twitter.com/Cointurknews/status/1806306928819077437?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 27, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption">
  Bitcoin price holds steady despite the US economic data release
 </figcaption>
</figure>
<h2 id="h-mixed-us-data-and-a-moderate-reaction-of-btc">Mixed US data and a moderate reaction of BTC</h2>
<p>The data published concerns&nbsp;:</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<ul>
 <li>the Gross Domestic Product (GDP),</li>
 <li>the jobless claims.</li>
</ul>
<p>The GDP reached 1.4% (in line with forecasts), while jobless claims stood at 233,000. A figure lower than the expectations of 236,000.</p>
<p>Following the release of this data, the <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">price</a> of Bitcoin experienced <strong>a moderate reaction</strong>. The crypto is stabilizing around $61,273, due to several factors.</p>
<ul>
 <li>Investors have already factored in positive expectations into Bitcoin’s price, following recent support purchases that propelled the cryptocurrency above $61,000.</li>
 <li>General optimism among investors supports the bullish trend in the Bitcoin market.</li>
</ul> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<h2 id="h-a-complex-relationship-between-bitcoin-and-the-us-economy">A complex relationship between Bitcoin and the US economy</h2>
<p>Bitcoin is often considered <strong>a hedge</strong> against inflation and economic uncertainties. In theory, this means that when economic indicators are weak, BTC should appreciate. The fact is that investors seek alternative assets.</p>
<p>Nevertheless, Bitcoin remains <strong>a highly speculative asset</strong>, sensitive to investor sentiment fluctuations. Positive <a href="https://en.coin-turk.com/bitcoin-remains-stable-after-us-economic-data-release/?utm_source=coingecko&amp;utm_content=coingecko&amp;utm_campaign=coingecko&amp;utm_medium=coingecko&amp;utm_term=coingecko" target="_blank" rel="noopener noreferrer nofollow">economic data</a> can, for example, stimulate risk appetite and prompt investors to turn to more traditional assets at the expense of Bitcoin.</p>
<p>Other factors that can influence the price of BTC include:</p>
<ul>
 <li>crypto <a href="https://www.cointribune.com/en/mica-regulation-80-of-crypto-companies-are-unaware-of-this-crucial-deadline/" target="_blank" rel="noopener noreferrer nofollow">regulation</a>,</li>
 <li>institutional adoption,</li>
 <li>technological innovations in the blockchain sector.</li>
</ul>
<p>In any case, Bitcoin’s moderate reaction to recent US economic data does not allow us to draw definitive conclusions about <a href="https://www.cointribune.com/en/bitcoin-at-200000-heres-when-it-will-happen/" target="_blank" rel="noopener noreferrer nofollow">its future</a>.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>

Bitcoin at $61,273: US economic data had no impact

Table of Contents

Cointribune EN

Other articles published on Jun 28, 2024

MoonBag Presale Leads as the Top Crypto Event in June 2024, While Immutable X and Bitcoin Cash St...

Top 5 Cryptocurrencies To Watch in July

Cryptocurrency Trading Activities Decline

Nostra CEO David Garai Resigns Post-Token Airdrop

Crypto Wealth Platform, Yield App, Shuts Down, Prepares for Liquidation Due to FTX-Related Financ...

Maximising Profits in Cryptocurrency Markets – What is Triangular Arbitrage?

Join our free newsletter for daily crypto updates!