The released US macro data is positive for the markets, but did not give the BTC rate an impulse. There is still Powell's speech ahead, in less than 10 minutes. But for now, such a reaction of#BTCto the data is an alarm bell for the bulls. Growth is taking place on declining volumes, and yesterday's high has not even been rewritten.
Although there are reasons for optimism:
- Core durable goods orders (MoM) (August) - 0.5% with a forecast of 0.1% and a previous figure of -0.1%.
- Core personal consumption expenditure price index (Q2) - 2.80% with a forecast of 2.80% and a previous figure of 2.80%.
- Durable goods orders (MoM) (August) - 0.0% with a forecast of -2.8% and a previous figure of 9.9%.
- GDP (q/q) (Q2) - 3.0% vs. 3.0% forecast and 1.6% previous.
- Initial Jobless Claims - 218K vs. 224K forecast and 222K previous.
All US economic data is within forecast or better than forecast and all speak of the strength of the economy, significantly cooling fears of a recession. And we repeat, this did not cause a pump on the#BTCchart. The chart highlights the price behavior after the data was published. So far, purchases are being crushed by sales.
