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Reading: Bitcoin Price Surpasses $67,000 as MTGOX Holdings Dwindle
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COINTURK NEWS > Economy > Bitcoin Price Surpasses $67,000 as MTGOX Holdings Dwindle
Economy

Bitcoin Price Surpasses $67,000 as MTGOX Holdings Dwindle

In Brief

  • Bitcoin price recovered above $67,000 today.

  • The Fed will announce its interest rate decision next week.

  • PCE data came in above expectations, indicating potential cautious Fed statements.

COINTURK NEWS
COINTURK NEWS 11 months ago
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Bitcoin price today recovered above $67,000, with MTGOX holding only $5 billion in assets. After billions in returns, the leading cryptocurrency continues to focus on the $70,000 target but needs more closures at higher levels. Now, the PCE data has been released.

Latest Cryptocurrency News

On the last day of July, the Fed will announce its interest rate decision. This meeting is expected to show a clearer stance on the anticipated rate cut in September, with rates remaining unchanged. The personal consumption expenditures (PCE) data, a key indicator for the current state of the US economy, was one of the most important events of the week and has now been released.

The PCE, an inflation indicator monitored by the Fed, is released following the recent recovery in US stock markets. The importance of the PCE data increased after yesterday’s high GDP data.

  • PCE (Annual) Announced: 2.5% (Expectation: 2.4% Previous: 2.6%)
  • Core PCE (Annual) Announced: 2.6% (Expectation: 2.5% Previous: 2.6%)

The PCE data came in above expectations, indicating that the Fed might make cautious statements next week. The latest data for cryptocurrencies could result in short-term negativity.

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 26 July, 2024 - 3:36 pm 26 July, 2024 - 3:36 pm
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