#CPI data release: bullish or bearish?   #BITCOIN   Historical Data Announced in the USA! How Much is Bitcoin in Dollars?

As expectations for interest rate cuts have increased in the US recently, recession concerns have also been on the rise. There is a strong expectation that interest rate cuts will occur in September, and there was no contrary statement in yesterday's Fed minutes. While large companies have different views on the recession, the fact that this possibility is still being discussed is making the market nervous. Meanwhile, a critical data was announced in the US amidst all this.

In the US, eagerly awaited unemployment claims data has been released. After last week's decline, there was an expectation of an increase this week, and it seems that the expectations have been met.

Initial Jobless Claims in the US
Announced: 232K (Expectation: 232K
Previous: 227K) US Unemployment Benefits
Applications (4 Week Average) Reported: 236.00K (Previous: 236.75K) The increasing voices of recession in the US can fuel such fears, although it would not be wrong to say that the focus is now on Powell's speech on Friday. It is unknown how the current data, if it turns out to be as expected, will have an impact.

After the released data, the eyes of cryptocurrency followers turned directly to the Bitcoin price. After the news, Bitcoin lost the $61,000 level and returned to $60,629. However, the fact that the change seen in the last 24 hours is at the level of 2.31% despite this price movement is pleasing investors.

The 7-day outlook indicated a 3.51% increase for Bitcoin. After the rise, BTC's market capitalization exceeded $1.2 trillion again, and the noticeable increase in the 24-hour trading volume indicated an increase in interest. After a 33% increase, the 24-hour trading volume surpassed $35.8 billion, revealing buyers' interest in the market.

#CPI data release: bullish or bearish?   #GateOpinionQuest   #CryptoObservers