Cryptocurrency

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-us-economic-data-and-cryptocurrency-trends/" data-wpel-link="internal">Insights on US Economic Data and Cryptocurrency Trends</a> 
Yesterday, entries on the ETF channel were positive and just a while ago US PMI data was released. This data is crucial for assessing the state of the economy. PMI figures, which show growth in various activity sectors, are also monitored by those interested in seeing the recession risk status. At one point, data below 50 indicated contraction and had put pressure on risk markets. 
<h2 style="text-align: justify" id="us-data-and-cryptocurrencies">US Data and Cryptocurrencies</h2> 
As this article was prepared, the <a href="https://coin-turk.com/grayscale-coinbase-hattinda-son-durum-iste-gonderilen-bitcoin-miktari" data-wpel-link="internal">Bitcoin</a> price stands at $66,000, with altcoins remaining stable compared to yesterday. Today, the focus in the US was on PMI data. With the closure of stock markets, major companies will publish their earnings reports. Thus, this week is expected to be eventful on the crypto front. US markets opened recently and started the day with a rise of less than 1%. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-343645 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/fed-faiz-tahmin-verileri.png" alt="" width="558" height="313"> 
The key aspect to watch in the PMI data is if it meets expectations. If the data comes in excessively high, it will reflect strong economic growth, potentially leading the Fed to increase tightening measures to balance growth. On the other hand, data below expectations at this stage isn’t too bad, as consistent data below 50 for at least three months would clearly indicate a contraction. 
<ul> 
 <li style="text-align: justify">US Manufacturing PMI Reported: 49.9 (Expected: 52 Previous: 51.9)</li> 
 <li style="text-align: justify">US Services PMI Reported: 50.9 (Expected: 52 Previous: 51.7)</li> 
</ul> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-us-economic-data-and-cryptocurrency-trends/" data-wpel-link="internal">Insights on US Economic Data and Cryptocurrency Trends</a></h5>

Insights on US Economic Data and Cryptocurrency Trends

Table of Contents

COINTURK NEWS

Другие статьи, опубликованные 23 апр. 2024 г.

Neura AI Blockchain Launch Public Testnet on Road to Mainnet

Will the Shiba Inu price 100x during this bull market?

Lummis-Gillibrand Bill Is Set To Ban Algorithmic Stablecoins

Bitcoin Analyst Says This Consolidation Phase Represents the Last BTC Bargain-Buying Opportunity

Finland's households turn to Bitcoin mining to heat homes

Wallets linked to Coinbase and Vitalik Buterin have millions ‘stuck’ in bridge contracts

Join our free newsletter for daily crypto updates!