An important data concerning the cryptocurrency market, especially Bitcoin, was announced a few minutes ago. The macroeconomic data released in the United States closely affects risky investment products like cryptocurrencies. Accordingly, the US services purchasing managers’ index (PMI) data was made public. How might this data impact Bitcoin? Let’s examine it together.
US Manufacturing and Services PMI Data Announced
The US services purchasing managers’ index (PMI) data came in above expectations. The reported figure was 49.5, which was below expectations. The macroeconomic data coming in below expectations provides a positive market environment for risky investment products, especially Bitcoin.
While US macroeconomic data came in below expectations, Bitcoin was trading at $66,743 at the time of writing. Bitcoin trading above the EMA 21 (green line) and EMA 9 (blue line) levels on the daily chart suggests a positive short-term scenario. Macroeconomic data from the US is of great importance for risky investment assets.
