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June 30, 2023
Marginally higher but lacking a clear-cut direction, Bitcoin is trading at $30,763 after ranging between $30,363 and $30,838 today.
United States Core PCE Price Index (MoM) (May) is next today at 12:30 UTC.
Bitcoin upside coincides with further encouraging market factors as data for United States GDP released yesterday at 12:30 UTC is better than expected with two, but worse than previous figure of 2.6. United States Initial Jobless Claims beat analyst expectations of 266,000 and the previous reading of 265,000 with new data of 239,000.
On the flip side, highly important Pending Home Sales data from United States beat analyst expectations of -0.5% with a reading of -2.7%.
As the trading day commences, technical analysis suggests Bitcoin price action is currently oscillating around the $30,760 resistance level with prices moving above and below several times during the session.
Other markets are also showing gains as Bitcoin Cash is up 15.31%. Litecoin leaps up 11.85% to trade around $94.79. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
The market is looking forward to the release of new data: United States Core PCE Price Index (MoM) (May) is expected today at 12:30 UTC.
This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 82.57% year to date.
