Cryptocurrency

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/us-economic-data-influences-bitcoin-price-2/" data-wpel-link="internal">US Economic Data Influences Bitcoin Price</a> 
Cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">markets</a> 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 announced. Before the data release, <a href="https://en.coin-turk.com/bitcoins-rally-amidst-halving-anticipation-analysts-predict-major-upsurge/" data-wpel-link="internal">Bitcoin</a> was trading at around $61,385. Let’s take a look at the data and Bitcoin’s price. 
<h2 style="text-align: justify" id="two-critical-data-points-from-the-us">Two Critical Data Points from the US</h2> 
The recently announced US Gross Domestic Product (GDP) data came in at 1.4%. The expectation for the data was also 1.4%. It appears that the data met expectations. On the other hand, the second data point was the US unemployment claims data. The figure was announced as 233,000. The expectation for the data was 236,000. Hence, the data came in below expectations. 
Before discussing Bitcoin’s price post-data, it is worth recalling that BTC had recently dropped below the critical level of $60,000. With buying reactions from the $59,000 levels, BTC had settled above $61,000. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-365718 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/BTCUSD_2024-06-27_15-33-53.png" alt="" width="1814" height="798"> 
After the data release, we see that Bitcoin is priced at $61,273. This price indicates that the flagship cryptocurrency Bitcoin has not been negatively affected by the data. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/us-economic-data-influences-bitcoin-price-2/" data-wpel-link="internal">US Economic Data Influences Bitcoin Price</a></h5>

US Economic Data Influences Bitcoin Price

Table of Contents

COINTURK NEWS

Alte articole publicate pe 27 iun. 2024

Ethereum’s ETF Surge, Solana’s Rising ETF Demand, and Furrever Token’s Lucrative 50% Referral Cod...

Vitalik Buterin Talks About Rarimo’s Zero-Knowledge Proof Voting Tool

Bitcoin spot ETFs net $21.5M, Fidelity and Grayscale lead inflows

MoonBag Crypto’s Presale Predicted To Reach $1, Luring Investors Away From Hedera and Slothana

Cosmos and Cardano Under Pressure: Qubetics Whitelist Remains a Bright Spot in Volatile Market

Motorsport Racing Game Racino Joins Magic Eden To Launch An NFT Collection

Join our free newsletter for daily crypto updates!