Bitcoin Price Falls as Disappointing US Economic Data and Hawkish Fed Remarks Take Effect
Bitcoin's price dropped significantly on Friday morning in the US, reversing its climb to $63,500. The disappointing US economic data and hawkish remarks from Dallas Fed President Lori Logan were cited as catalysts for the drop. The University of Michigan Consumer Sentiment Survey for May fell to 67.4, missing economist forecasts by a large margin, while one-year inflation expectations rose to 3.5%. This news caused the US dollar and bond yields to rise slightly, but had little effect on stocks. Bitcoin fell over 4% from its daily high to $60,700 before bouncing back slightly to $61,000 at press time.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
比特币ETF看到了3.65亿美元的资金流入，而以太坊基金则下滑。
Jupiter opens community vote on fate of 215M unclaimed JUP tokens
US Puts $10 Million Bounty on Two Russian Citizens Accused of Cryptocurrency Laundering! Here Are the Details
The United States has accused two Russian citizens of operating a global money laundering and sanctions evasion network using cryptocurrencies.
JUST IN: SEC Sues Altcoin and Cryptocurrency Company – Claims It’s a Security
Trending news
MoreCrypto prices
More
