Bitcoin's Decline Amidst U.S. Factory Data Uplifts Dollar to New Heights
Tuesday, 2 April 2024, 05:33
Bitcoin Price Drop and U.S. Factory Data
The unexpected expansion of U.S. factory activity in March has led to Bitcoin facing a decline of over 5%.
Impact on Currency Market
The surge in the factory sector propelled the dollar index to a nearly 5-month high.
- The dollar index reached its highest level due to the positive economic data, affecting Bitcoin prices.
The currency market dynamics were notably affected by the latest U.S. economic indicators, resulting in significant fluctuations in Bitcoin's value.
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.