While Bitcoin price is fluctuating today, the crypto market awaits US GDP and unemployment data. Forward forecast GDP data fell below expectations, which did not meet investors' expectations.
Markets were eagerly awaiting US GDP and weekly unemployment claims data today, along with US PCE inflation data to be released tomorrow.
According to the latest data from the US Department of Labor Bureau of Economic Analysis, US GDP increased by 1.3% in the first quarter of fiscal 2024, beating market expectations and raising investors' hopes. While advanced forecast data showed that GDP increased by only 1.6%, there was an increase of 3.4% in the last quarter of fiscal 2023.
Declining GDP data demoralized investors, leading to a massive sell-off in the broader financial market, especially the crypto market. However, the market was expecting the first revision of US GDP data to show 1.2% growth. In this case, it could boost investor hopes as recent data shows the economy is progressing above Wall Street expectations.
On the other hand, macroeconomic concerns and inflation woes have negatively impacted crypto market sentiment. The Federal Reserve has continued to keep interest rates high as inflation remains above its 2% target, causing many investors to wait on the sidelines.
Bitcoin Price Rises Again After Business Data
As the latest GDP data boosted market sentiment, Bitcoin also gained momentum. The broader crypto market was volatile today as investors awaited the release of important economic data.
Another important data from the US Department of Labor showed that weekly unemployment claims increased by 3,000 to 219,000 last week. While this figure is slightly above the market estimate of 218,000, the underlying strength of the labor market remains. According to reports, the latest data points to continued support for the economy.
With US GDP data coming in better than expectations, the crypto market and the broader financial sector will be closely monitoring the upcoming US PCE inflation data. According to the CME FedWatch Tool, there is a 98.9% probability that the US Federal Reserve will leave the interest rate unchanged at its meeting on June 12.
Meanwhile, the US 10-year Treasury yield fell 0.99% to 4.577, following revised US GDP data for the first quarter. At the same time, US Dollar Index Futures fell 0.25% to 104.770.
PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.
My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET THE CONFIRMATION I SAID ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.
Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can fix it in 5 seconds.
Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transactions and get 10 USDT reward.
WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
You can help your friends in need by sharing this post.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. DON'T FORGET TO FOLLOW IF YOU HAVE NOT FOLLOWED YET. KIND REGARDS.