Cryptocurrency

Impact

when

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/mtgox-refunds-and-german-sales-impact-cryptocurrency-market/" data-wpel-link="internal">MTGOX Refunds and German Sales Impact Cryptocurrency Market</a> 
MTGOX refunds have officially started, and Germany continues sales, affecting the <a href="https://en.coin-turk.com/bitcoin-price-reaches-new-highs-as-investors-show-confidence/" data-wpel-link="internal">cryptocurrency market</a>. This month, there was a clear risk of billions of dollars in extra BTC entering exchanges, and warnings had been issued for weeks. Now, we see how justified those warnings were. BTC fell to $53,485, while altcoins experienced drops exceeding 8%. 
<h2 style="text-align: justify" id="latest-us-data">Latest US Data</h2> 
The newly released <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> directly impacts the macroeconomic outlook. However, investors should know that the cryptocurrency decline is happening while stock markets hit new highs and the Fed’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> cut scenario is being priced in. The issue is not the macroeconomic pressure but the simultaneous start of MTGOX refunds and German government sales. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-368337 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/BTCUSDT_2024-07-05_15-32-22.png" alt="" width="1815" height="836"> 
We had to experience this process at some point, and we are going through it when crypto should be at its peak. So, what are the latest data? Today, the average hourly earnings, non-farm payrolls, and unemployment rate data were released. Earnings were expected to fall, and unemployment and non-farm payrolls were expected to decrease. 
<ul> 
 <li>US Unemployment Rate Announced: 4.1% (Expectation and Previous: 4%)</li> 
 <li>Non-Farm Payrolls Announced: 206K (Expectation: 190K Previous: 272K)</li> 
 <li>Average Hourly Earnings Announced: 3.9% (Expectation: 3.9% Previous: 4.1%)</li> 
</ul> 
Slowing wage growth is positive; last month it increased by 0.4%, this month by 0.3%, and the unemployment rate came in 0.1% above expectations. These are positive for cryptocurrencies. Although Non-Farm Payrolls exceeded expectations, they fell compared to the previous period. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/mtgox-refunds-and-german-sales-impact-cryptocurrency-market/" data-wpel-link="internal">MTGOX Refunds and German Sales Impact Cryptocurrency Market</a></h5>

MTGOX Refunds and German Sales Impact Cryptocurrency Market

Table of Contents

COINTURK NEWS

Other articles published on Jul 5, 2024

El Salvador Sticks to Bitcoin Strategy Amid Volatile Market

Shiba Inu (SHIB) Crashes to New Low: Rebuy Signal?

Crypto Whales Bought These Altcoins in the First Week of July 2024

Shiba Inu Skyrockets 466% in Weekly Burns, Yet SHIB Price Drops 22%

Crypto Trader Says Bitcoin In 'Unsafe Territory,' Likely To Plunge To $44,000

Crypto Exchange KuCoin Adds 7.5% Tax for Nigeria Users, Citing ‘Regulatory Update’

Join our free newsletter for daily crypto updates!