Last night, the U.S. released GDP data and revised initial jobless claims, further consolidating the Fed's expectation of only a small rate cut in September. Bitcoin once broke through $60,000 to $61,186.4 last night, and fell back to $58,700.5 in the early morning. Today, Bitcoin was weak and shrunk around 59,000 points. The altcoins fell sharply, especially the unlocking and delisting have always troubled the altcoin market.
The U.S. Department of Commerce announced the U.S. second quarter gross domestic product (GDP) on Thursday evening (29th), and the revised quarterly growth rate was revised up from the initial value of 2.8% to 3%, higher than market expectations.
The main reason is that consumer spending, which accounts for two-thirds of economic output, grew by 2.9%, higher than the previous estimate of 2.3%, and business investment also expanded by 7.5%, which to some extent alleviated market recession concerns and the U.S. economy still showed resilience.
In addition, data released by the United States on Thursday showed that the number of initial jobless claims in the week ending August 24 fell by 2,000 to 231,000 after seasonal adjustment, which also helped ease concerns about the rapid deterioration of the economy and may further consolidate the Fed's expectation of only a small interest rate cut in September.
It is worth noting that the US core personal consumption expenditures (PCE) price index to be released tonight is also an inflation indicator that the Federal Reserve focuses on, which may provide more clues about the extent of the interest rate cut in September.
