COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Continued Negativity in Cryptocurrencies as BTC Remains Below $40,000
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Economy > Continued Negativity in Cryptocurrencies as BTC Remains Below $40,000
Economy

Continued Negativity in Cryptocurrencies as BTC Remains Below $40,000

In Brief

  • US GDP data indicates economic slowdown, aligning with Fed's preference.

  • Upcoming PCE data critical for Fed's interest rate decisions.

  • Despite mixed economic indicators, BTC price remains unaffected for now.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Cryptocurrency negativity continues, with BTC maintaining closures below $40,000. Significant data arrived today. Developments on the macro front had not been greatly affecting crypto due to the ETF excitement for a while. However, the sell-offs following approvals have increased the significance of US data.

US Data Arrives

The day’s most critical data was the US GDP, that is, the growth data. Experts predicted a slowdown to 2% growth in the last quarter of 2023 from the previous 4.9%, which is an important indicator of the economy’s health. ING analysts think tomorrow’s PCE data will clarify the interest rate path, but today’s GDP was also a significant signal for a soft landing.

2024 market interest rate expectations

The slowdown in economic growth is what the Fed wants and is necessary for the weakening in the employment front. On the other hand, tomorrow’s PCE data will reveal the current state of inflation, making it the most critical data before the Fed meeting.

  • US GDP Announced: (Expectation: 2% Previous: 4.9%)
  • US Core Durable Goods Orders Announced: (Expectation: 1.5% Previous: 5.4%)

The unemployment claims data exceeded expectations, durable goods orders came in low, which is favorable for cryptocurrencies. However, the GDP data exceeding expectations might slightly encourage the Fed. We can expect increased volatility around these hours due to the upcoming PCE data, which will show the latest state of inflation. For now, today’s data has not negatively affected the BTC price.

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.

You Might Also Like

Jamie Dimon Sounds the Alarm on U.S. Economic Challenges Ahead

US Inflation Rates Poised to Climb as Fed Watches Closely

Wells Fargo’s Chief Economist Anticipates Economic Challenges

Cryptocurrencies React as US Economic Data Surprises

Crypto Gains Momentum as ECB Cuts Interest Rates

COINTURK NEWS 25 January, 2024 - 4:36 pm 25 January, 2024 - 4:36 pm
Share This Article
Facebook Twitter
Share
Previous Article Excitement in the Crypto Community: AltLayer’s Significant Airdrop Event
Next Article Market Dominance Increase Could Propel XRP to $0.80
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

South Korea Sees Crypto Coins Surge as Excitement Spreads
Altcoin News
The Resilient Performance of Cryptocurrency Funds Under Geopolitical Tensions
Cryptocurrency News
Bitcoin Breaks New Ground During Geopolitical Turmoil
Bitcoin (BTC)
How to Earn $1,780 or More Using Whaling Techniques?
Sponsored Article
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?