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.
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.
