Bitcoin Price Surges Following Positive PCE and GDP Data
Bitcoin Price Surges Following Positive PCE and GDP Data
Bitcoin price rises significantly after PCE and GDP data encourage hopes of a soft landing in the economy. This positive trend aligns with bullish signals in the cryptocurrency market. Investors are eager to discover the best crypto to buy now.
PCE, GDP Data Support Soft Landing Projections - Is The Crypto Bull Market Here?
The latest macroeconomic data spells good news for the US equities and crypto markets. The GDP growth figure for the second quarter came out at 3.0%, which is in line with market expectations. Additionally, the Q2 core PCE prices also met expectations.
- Initial jobless claims and durable goods orders beat expectations.
- Q2 consumer spending and continuing jobless claims missed the forecast.
The Bitcoin price reacted positively to the data, hitting the $65,000 price mark for the first time since early August. Meme coins are following BTC’s lead, with Shiba Inu up by 20% and Brett and Pepe up by double digits. The demand for new meme coins is also soaring, with low-cap coins like Moo Deng and Pepe Unchained being seen as some of the best crypto to buy now.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.