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COINTURK NEWS > Economy > Bitcoin Price Remains Stable After Key US Data Release
Economy

Bitcoin Price Remains Stable After Key US Data Release

In Brief

  • US released ADP non-farm employment change and unemployment claims data.

  • Bitcoin traded at $60,150 before the data release.

  • Bitcoin remained stable at $60,104 after the data release.

COINTURK NEWS
COINTURK NEWS 10 months ago
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The cryptocurrency world was focused on two critical data releases from the US today. The ADP non-farm employment change data and the US unemployment claims data were just released. Before the data release, Bitcoin was trading at around $60,150. Let’s take a look at the data and Bitcoin’s price.

Contents
Two Critical Data Points from the USLatest Bitcoin Price

Two Critical Data Points from the US

The recently released ADP non-farm employment change data came in at 150,000. The expectation was 163,000. Additionally, the previous data was revised to 157,000. It appears that the data fell short of expectations.

On the other hand, the second data point was the US unemployment claims data. The figure was announced as 238,000. The expectation for this data was 234,000. Thus, the data exceeded expectations.

Latest Bitcoin Price

Before discussing Bitcoin’s price after the data release, it is worth noting that BTC recently approached a critical level of $64,000. Bitcoin then saw some profit-taking, dropping below $60,000 today.

After the data release, Bitcoin is seen at $60,104. According to this price tag, the flagship cryptocurrency Bitcoin has not been negatively affected by the data. However, considering a 3% drop in the last 24 hours, we can say that BTC‘s reaction to the data had already occurred.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 3 July, 2024 - 3:41 pm 3 July, 2024 - 3:41 pm
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