Bitcoin Rises to $62,389 Following US Macroeconomic Data Release: Important Information for Investors
Bitcoin rose significantly following the release of US macroeconomic indicators.
While the decline in US unemployment rates exceeded expectations, it did not trigger new inflation concerns in the crypto market.
According to TradingView, Bitcoin rose to $62,323 after the Wall Street open on June 27.
Bitcoin surged following the release of US macroeconomic data, hitting a new daily high and showing promising trends for investors.
Analysis of Latest Economic Indicators
The BTC/USD trading pair gained 2.3%, raising hopes that selling liquidity could rise above the current spot price. Market analyst Daan Crypto Trades noted that liquidity around $59,000 has been absorbed, pointing to a potentially interesting market scenario in the coming weeks. Additionally, analyst Jelle noted that Bitcoin, Mt. He emphasized his ability to maintain his bottom lines even between payments by Gox and government sales.
The Role of Exchange Traded Funds in the Bitcoin Market
Daan Crypto Trades highlighted positive net inflows into US spot Bitcoin ETFs for the second day in a row. According to data from UK-based Farside Investors, $21.4 million was managed on June 26 and $31 million the day before. Axel Adler Jr. from CryptoQuant compared Bitcoin's current performance to its movements at the end of 2019. He noted the possibility of a five-month correction with a maximum decline of 46% based on historical data.
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