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Bitcoin Maintains $30K Price as Investors Await Data on Inflation and Jobless Claims
The price of Bitcoin (BTC) has maintained its level above $30K for a while now, even as it has been swinging. However, market forces heavily threaten the king coin as inflation and unemployment in the US seem unfavorable.
Several conditions may affect the price of Bitcoin in the near future. For instance, the US Federal Reserve recently published hawkish minutes that point to potential rate hikes. As it struggles to fight inflation. The release caused BTC to fall below $31,000 on Thursday, along with a declining global stock market.
According to Nexo co-founder Antoni Trenchev, not much may happen to Bitcoin, especially in relation to the Federal Reserve’s decision. Trenchev said:
“With headline inflation continuing to drift lower while core inflation remains sticky, don’t expect the narrative to change too much when it comes to this month’s Fed meeting.”
Currently, these macroeco
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