Bitcoin holds above the $30,000 mark as investors anticipate upcoming US inflation and jobless claims data
Bitcoin holds above the $30,000 mark as investors anticipate upcoming U.S. inflation and jobless claims dataConnect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Bitcoin has kept its head above the $30,000 line for the last three weeks, but U.S. inflation numbers and jobless claims weigh heavy on investor confidence.
"With headline inflation continuing to drift lower while core inflation remains sticky, don’t expect the narrative to change too much when it comes to this month’s Fed meeting," Nexo co-founder Antoni Trenchev told The Block. The degree to which the Fed applies its tightening policies after July is an unknown factor creating"uncertainty for crypto prices and risk assets," Trenchev said.. On Monday, major equity futures tied to the S&P 500 and Nasdaq 100 fell and European stocks declined ahead of Wednesday's release of U.S. inflation data. The CPI is expected to have risen to an annual rate of 3.1% in June.
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