Cryptocurrency markets are significantly influenced by data from America and Europe. According to these data, we see that Bitcoin and other cryptocurrencies react accordingly. The importance of data meeting expectations is crucial as Bitcoin shows price increases during such times. Conversely, when the data is poor, BTC prices fall. Today, the relevant data for the cryptocurrency market came from Europe.
EU CPI Data Released
The CPI data for the Eurozone was highly anticipated by the market today. Previously, the data was announced at 3.1%, while the expectation was 2.9%.
Looking at the released data, we see that the figure was indeed 2.9%, indicating that the data met expectations.
Current Bitcoin Price After Data Release
Bitcoin’s price started the day slightly above the $64,000 mark. It later experienced a pullback to $63,300.
After the data was released, we see that Bitcoin is trading at $63,291. Especially as the halving approaches, we observe that the cryptocurrency Bitcoin is trapped within a range. The $60,000 level continues to act as a critical support for BTC.
