Strong US GDP Data Puts Bitcoin, Jasmy, Avalanche Recovery At Risk
Falling cryptocurrencies like Bitcoin, Jasmy, and Avalanche could face further downsides after the U.S. published strong gross domestic product and jobless claims data.
Bitcoin (BTC) ‘s price retreated by almost 4% on Thursday and was trading at $63,950. Other altcoins, like JasmyCoin (JASMY) and Avalanche (AVAX), performed worse, falling by over 10%. The two have slipped for four consecutive days and are hovering at their lowest swings since July 14.
Bitcoin, Avalanche, Jasmy prices | chart by TradingView
Most of this decline is likely because of the ongoing liquidation of Bitcoin from Mt.Gox wallets. Kraken has already distributed its coins, while Bitstamp will move coins worth $3 billion on Thursday.
US GDP and jobless claims data
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