The cryptocurrency market continues its volatile movement. Bitcoin has not yet reached the $73,777 level it achieved in March. The $70,000 level was surpassed a few times, but the bulls couldn’t push the price higher. Before the data from the US, Bitcoin was struggling at the $60,000 level.
Two Critical Data Points from the US
Today, two critical data points from the US were just announced. The first data point was the Gross Domestic Product (GDP) price index. The data was announced as 2.5%. It appears the data exceeded expectations, which were at 2.3%.
The second data point was the unemployment claims data. According to this, the data was announced as 231K. The expectation for the data was 232K. It appears the data came in below expectations.
After the data, looking at the price of Bitcoin, the flagship of cryptocurrencies, we see BTC trading at $60,325. We can say that the data had a slightly positive effect on the price of Bitcoin.
