Cryptocurrency Market Continues to Strengthen

The cryptocurrency market continues to strengthen as a result of intense interest in nine spot Bitcoin ETFs in the US. The market is focused on macroeconomic data that could influence the Fed’s interest rate decision. The February Core Durable Goods Orders and Durable Goods Orders data exceeded expectations, painting a positive picture. The Impact of Economic Data on Markets The release of Durable Goods Orders and Core Durable Goods Orders data in the US shows the strength of the economy. These better-than-expected data have the potential to positively impact the strengthening of the US dollar and risky markets, including cryptocurrencies. Core Durable Goods Orders, as a gauge of manufacturing activities excluding the transportation sector, exceeded market expectations with a monthly increase of 0.5%. This indicates growth in the manufacturing sector. Durable Goods Orders, with a 1.4% increase, also exceeded expectations, indicating an increase in demand for consumer goods. Current State […]

Cryptocurrency Market Continues to Strengthen

The cryptocurrency market continues to strengthen as a result of intense interest in nine spot Bitcoin ETFs in the US. The market is focused on macroeconomic data that could influence the Fed’s interest rate decision. The February Core Durable Goods Orders and Durable Goods Orders data exceeded expectations, painting a positive picture.

The Impact of Economic Data on Markets

The release of Durable Goods Orders and Core Durable Goods Orders data in the US shows the strength of the economy. These better-than-expected data have the potential to positively impact the strengthening of the US dollar and risky markets, including cryptocurrencies.

Core Durable Goods Orders, as a gauge of manufacturing activities excluding the transportation sector, exceeded market expectations with a monthly increase of 0.5%. This indicates growth in the manufacturing sector. Durable Goods Orders, with a 1.4% increase, also exceeded expectations, indicating an increase in demand for consumer goods.

Current State of Cryptocurrencies

Bitcoin continues its rise, trading at $70,857 with a 5.75% increase in the last 24 hours. It experienced an 11.85% increase last week and a 38.30% increase in the last 30 days. Ethereum is also up by 5.68% trading at $3,630. Some of the top-performing altcoins include dogwifhat and Internet Computer.

However, the day’s biggest decliners include Toncoin, Helium, and Bitget Token, indicating that the cryptocurrency market is still volatile, reminding investors to be cautious.

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how to buy crypto?
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • bitcoinBitcoin(BTC)
    $71,035.006.09%
  • ethereumEthereum(ETH)
    $3,668.3118.11%
  • tetherTether(USDT)
    $1.000.00%
  • binancecoinBNB(BNB)
    $620.037.56%
  • solanaSolana(SOL)
    $181.842.37%
  • staked-etherLido Staked Ether(STETH)
    $3,662.5718.08%
  • usd-coinUSDC(USDC)
    $1.000.06%
  • rippleXRP(XRP)
    $0.545.75%
  • dogecoinDogecoin(DOGE)
    $0.1637697.95%
  • the-open-networkToncoin(TON)
    $6.685.22%
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