Israel and Iran experienced tensions over the weekend, which led to discussions about the subsequent decline in Bitcoin and cryptocurrencies. Although there has been some recovery, prices have not yet returned to previous levels. Today, the market was focused on two critical pieces of data coming from the US, which were just announced. Let’s look into the details.
Two Critical Data Points Arrive from the US
While the market continues to discuss the ongoing tensions between Israel and Iran, it monitored two critical data points from the US. The first data point was the US core retail sales, which were expected to be at 0.5%. The previous data was announced at 0.3%. The data released shows an actual figure of 1.1%.
The second data point was the US retail sales data, expected at 0.4% but came in at 0.7%. The previous figure was 0.6%. We see that the data exceeded expectations.
Current Status of Bitcoin and Cryptocurrencies
Following the release of the data, looking at the Bitcoin price, we see that the BTC price is trading at $66,067, indicating that it was not significantly affected by the data.
Looking at the cryptocurrency Ethereum, we see that the price is trading at $3,242.
