- BTC lost 2% per day
- But the weekly chart is still in a slight plus
- Let’s see what data has affected the market
As of this morning, Bitcoin has fallen 2.01% to $23,920. But on the weekly chart, it is still up 0.97%. Ethereum lost 1.27% per day and costs $1,645.72. At the same time, his weekly result is in a small minus (-0.66%).
The total capitalization of the crypto market increased by 0.05% to $1.09 trillion. And the total trading volume over the past 24 hours fell by 4.05% to $60.05 billion.
US equities finished Thursday higher, with the Dow Jones Industrial Average up 0.33%, the S&P 500 up 0.53% and the Nasdaq Composite up 0.72%.
Yesterday, the US Department of Labor published fresh data on applications for unemployment benefits. They fell 3,000 to 192,000 last week, below the 200,000 forecast by economists.
The rise in jobless claims is an indicator of inflation cooling. There were fewer applications than planned, which means that inflation is still strong.
This is negative data for the market. After all, the regulator may raise interest rates more than expected in the future.
Another bearish factor was the publication of the FRS minutes. It showed that some members pushed for a 50 basis point hike in interest rates at the previous FOMC meeting.
Today the US will present the January personal consumption price index. This is another key indicator of inflation, so we will keep an eye on this metric.