Today, there were three critical pieces of economic data expected from the United States that could impact Bitcoin and other cryptocurrencies. Prior to the release of this data, Bitcoin‘s price had retreated to as low as $68,500. However, a recovery ensued, and the price of BTC climbed back up to $71,000. Let’s take a closer look at the announced data and the current state of Bitcoin’s price.
Three Key Figures from the US
The first piece of data from the US was the ongoing jobless insurance claims. The previous figure was announced at 1,807,000. The latest figure came in at 1,819,000, indicating an increase from the previous number. Another key figure was the US Gross Domestic Product (GDP) data. The GDP growth was expected to be 3.2% but came in slightly higher at 3.4%, exceeding expectations.
The final piece of data was the initial jobless claims. According to the released data, the number came in at 210,000, below the expectation of 213,000. This figure was also lower than the forecast, and it matched the previous number of 210,000 as well.
Looking at the Bitcoin price following the release of the data, we see that BTC is trading at the $70,480 level, suggesting that the cryptocurrency has not been significantly impacted by the economic indicators.
