The data known as US Core Durable Goods Orders is defined as a significant economic indicator that assesses the strength of the US economy and the overall state of consumer spending. This indicator is closely monitored by investors and analysts as it can reflect important information about the general outlook of the US economy. Additionally, the situation may have indirect effects on the world of cryptocurrencies. The data on US Core Durable Goods Orders has just been announced.
Data Revealed in the US
US Core Durable Goods Orders are generally considered one of the important indicators of economic growth. A positive outlook in the data could contribute to investors’ likelihood of taking risks, which in turn could positively affect the demand for risky assets such as cryptocurrencies led by BTC.
Moreover, the strengthening of the US economy can usually also benefit the American dollar. Should this situation arise, noticeable changes could occur in the position of cryptocurrencies against the dollar.
The strengthening of the dollar could lead investors away from risky assets, and this could negatively affect the prices of cryptocurrencies.
The US Core Durable Goods Orders data that was announced a few minutes ago is as follows: Announced: -0.3% (Expectation: 0.2% Previous: -0.1%)
Current Situation in Bitcoin
The data related to US Core Durable Goods Orders could bring high volatility to the markets. Results that deviate from expectations can create different effects on prices. Considering that cryptocurrency units are highly volatile, the impact of the data could be significant.
Despite all this, the upward movement experienced in Bitcoin in recent days seems to continue today. After the opening of the Asian markets today, the BTC price rose above $57,000 but then pulled back slightly. As of the time of writing today, the BTC price continues to trade above $56,893.
