Latest Economic Impact of the United States and Signals for the Cryptocurrency Market
Actual GDP Decrease, Putting Pressure on the Market
According to the latest report, the actual quarterly GDP growth rate of the United States in the first quarter decreased to -0.5%, lower than the initial expected level of -0.2%. This is a warning signal about economic decline, which could significantly affect the sentiment of investors in both traditional finance and cryptocurrencies. The continuous negative decrease makes cryptocurrency traders need to be cautious when evaluating the growth prospects of digital asset prices.
Core Inflation Remains High, Increasing Volatility
The core PCE consumer price index of the United States was reported at 3.5% in the first quarter, exceeding the expected 3.4% and slightly increasing compared to the previous period. This index is an important measure reflecting inflationary pressure, which directly impacts the monetary policy of the Federal Reserve (Fed). High inflation makes it difficult for the Fed to lower interest rates soon, thereby putting pressure on cryptocurrencies that are sensitive to macroeconomic fluctuations.
Number of Unemployment Claims Decreases, Labor Demand More Stable
In the week ending June 21, the number of unemployment claims in the United States decreased to 236 K, lower than the expected 245 K and the adjusted 246 K from the previous week. This data shows that the labor market continues to maintain sustainable recovery, reinforcing economic confidence but could also prompt the Fed to maintain a tightening monetary stance. This volatility is of great interest as it directly affects the flow of investment into risky assets like cryptocurrencies.
Conclusion: Opportunities and Challenges for the Cryptocurrency Market in the Context of the U.S. Economy
The latest economic data indicates rising uncertainty in the financial markets. The pressure from negative GDP and high inflation will create a highly volatile environment. However, the stability of the labor market remains a bright spot supporting cryptocurrency investors to consider holding or opening positions. Closely monitoring these indicators is a crucial step for making optimal strategic decisions, helping to seize opportunities and minimize risks in the digital asset market.
Source: https://tintucbitcoin.com/gdp-my-q1-giam-con-05/
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