Bitcoin and Ethereum are pumping after the U.S. Bureau of Economic Analysis released its official GDP data for Q2 2022. The data shows that real GDP decreased by 0.9% year over year, marking the nation’s second consecutive quarter of negative GDP growth.
- Bitcoin traded for about $22,700 prior to the bureau’s release at 08:30 EST. Meanwhile, Ethereum traded for about $1,630.
- Both coins then began to climb over the following hours, with Bitcoin reaching back to $21,114 at about 11:53, and Ethereum hitting $1,754 at the same time. Each has since pulled back to $23,800 and $1,720 respectively, at writing time.
- Ethereum’s rise is compiled with newfound enthusiasm over its upcoming បញ្ចូលចូលគ្នា upgrade, which will take its consensus mechanism from proof of work to proof of stake.
- The pump follows a fairly bullish reaction to the Federal Reserve’s ការដំឡើងអត្រាពិន្ទុមូលដ្ឋាន 75 on Wednesday – which has normally been viewed as bearish for crypto and stocks.
- By many countries’ definitions and common measurements, two consecutive quarters of negative GDP means a nation has technically entered recession. However, the White House បដិសេធ that the U.S. economy has entered such a state, អះអាង that recessions are determined by a more “holistic look at the data.”
- When asked at a press conference on Wednesday, Federal Reserve Chairman Jerome Powell បានបញ្ជាក់ that he did not believe the economy was in a recession. However, he claimed that it is “softening.”
Binance ឥតគិតថ្លៃ 100 ដុល្លារ (ផ្តាច់មុខ): ប្រើតំណនេះ ដើម្បីចុះឈ្មោះ និងទទួលបាន $100 ឥតគិតថ្លៃ និងថ្លៃសេវា 10% លើ Binance Futures ខែដំបូង (លក្ខខណ្ឌ).
ការផ្តល់ជូនពិសេសរបស់ PrimeXBT៖ ប្រើតំណនេះ ដើម្បីចុះឈ្មោះ និងបញ្ចូលលេខកូដ POTATO50 ដើម្បីទទួលបានប្រាក់រហូតដល់ 7,000 ដុល្លារលើការដាក់ប្រាក់របស់អ្នក។
Source: https://cryptopotato.com/btc-reclaims-24k-eth-1700-following-second-consecutive-gdp-decline/