MTGOX on-chain activity caused the BTC price to drop from $65,000. However, BTC recovered. This situation is a positive development in the medium term as the MTGOX refunds, which have been troubling investors for years, will eventually cease to be a FUD.
US Retail Sales
The increase in retail sales in America may indicate that the Fed needs to take action due to concerns that the already high import of consumer goods could increase even further. Therefore, the decline here amidst the Fed’s fight against inflation and the positive data of the last few months will be in favor of investors.
The recently announced data is not a massive critical signal for the Fed, but it is important as it is one of the indicators monitored in the fight against inflation. On the other hand, the most important thing for the next few months is the easing of employment along with inflation data.
The retail sales data was expected to be -0.3% monthly but was announced as 0%. Although this is below the previous month’s 0.1%, it is above expectations. Export prices were announced as -0.5% against the expectation of -0.6%. BTC did not experience a major sell-off following the latest data.
