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US Gross Domestic Product was announced as 3 percent as expected. The fact that the data came in line with expectations on the US side continues to be interpreted positively in terms of markets. The Fed’s 50 basis point cut in interest rates at its previous meeting seems to put the markets on a soft landing in the economic contraction following the pandemic. However, the US Gross Domestic Product data announced today did not surprise the markets and was 3 percent as expected. So how did Bitcoin respond to the data?
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A Look at Bitcoin After the US Data
Bitcoin made upward pricing again after the Fed’s 50 basis point cut. The leading cryptocurrency, which fell to $ 55 thousand, is currently priced above $ 64 thousand.
Bitcoin, which fell to the $62,000 level at the close, will now try the $64,700 resistance band for the third time in a short time after the data comes as expected. If it breaks here, the next target for BTC is the $65,500 region.
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