Data from the US has a greater impact on cryptocurrency markets than you might expect. Especially with the approval of the spot ETH ETF, the preferences of US investors familiar with traditional markets have influenced price fluctuations more. Additionally, US data significantly affects these investors.
US Data and Crypto
Is that all? Besides the point mentioned earlier, this data also gives us insights into when the Fed might cut interest rates and how long they might delay these cuts. If the Fed delays cuts, risk markets weaken. If they increase rates, it is negative for risk markets, including cryptocurrencies.
Today, the recently released data was the US Manufacturing Data. This data, based on feedback from purchasing managers in the sector, reflects the appetite in the manufacturing sector. If the figure is above 50, it indicates growth and strong spending in the sector. However, if the data is below 50 for three consecutive months, it indicates a weakening in that sector of the economy.
The data was announced at 51.3, slightly above the expected level of 50.9. Since there was no abnormal increase, the data can be considered relatively positive for now.
