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COINTURK NEWS > Economy > US Releases Key Economic Data Affecting Cryptocurrency Market
Economy

US Releases Key Economic Data Affecting Cryptocurrency Market

In Brief

  • The US released PPI and Unemployment Claims data.

  • PPI data was 2.2%, below expectations, pleasing investors.

  • Unemployment Claims data was 242K, above the expected 225K.

COINTURK NEWS
COINTURK NEWS 12 months ago
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The cryptocurrency market eagerly awaited the release of two significant macroeconomic data from the United States: PPI and Unemployment Claims. During this period, many cryptocurrencies, especially Bitcoin, exhibited volatile movements. What can we expect in the markets following the release of this data? We analyze the situation with the newly released data.

Two Important Data Points Released in the US

Two significant data points that have been occupying the agenda and closely followed by investors in the United States were released. The PPI data was announced as 2.2%, which was below expectations and pleased investors. This development could initiate a positive trend for the data recorded at 2.2% in the previous month.

The US Unemployment Claims data was also shared with the public at the same time. The data was announced as 242K, exceeding the expected 225K, which could lead to a negative trend. Last month, this data was announced as 229K. Following the release of the data, Bitcoin was trading at $68,851, while Ethereum was trading at $3,512 at the time of writing.

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.

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COINTURK NEWS 13 June, 2024 - 4:34 pm 13 June, 2024 - 4:34 pm
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