The cryptocurrency market eagerly awaited the release of a significant macroeconomic data from the United States, the Unemployment Claims data. During this period, many cryptocurrencies, especially Bitcoin, exhibited a stagnant movement. What can the markets expect after the release of this data? We examine the data and the process.
Critical Data Released in the US
United States released an important data that has been closely followed by investors. The Unemployment Claims data was shared with the public minutes ago. The data, which was announced as 243K, exceeded the expected 229K and could lead to a negative process. Last month, this data was announced as 222K. Following the release of the data, Bitcoin was trading at $64,830, while Ethereum was trading at $3,460 at the time of writing.
Monitoring macroeconomic data in the US, especially by the FED, provides important clues about future interest rate decisions. The outcome of these data is of great importance for risky asset investors, as it indicates whether the FED will lower or raise interest rates.
