• Unemployment rate in U.S. stayed at an historic low, while Bitcoin surged 1.5%.
• Data from Zerohedge showed unexpected rise of Bitcoin amidst stable unemployment rate.
• Ruble-based BTC and USDT volume increase as Dollar strengthens over RUB, while UK is heading towards a sovereign debt crisis with Federal Reserve set to implement 25bps rate hike following strong economic data.
Stable Unemployment Rate
Unemployment rate in the United States has stayed at an historic low, showing the strength of the economy despite various external factors such as the UK’s looming sovereign debt crisis.
Surge in Bitcoin Price
Despite this stability, an unexpected surge of 1.5% in Bitcoin prices has been recorded on June nonfarm payrolls data released by Zerohedge. This reveals that investors are interested in cryptocurrency despite other market conditions.
Shifting Distribution Trends Among ‚Whale‘ Holders
In addition to this, there is evidence that suggests that distribution trends among bitcoin ‘whales’ holders are beginning to shift as well, although more research is needed into this matter to understand its implications further.
Increase In Ruble-Based BTC and USDT Volume
As the Dollar strengthens over RUB, there has also been a corresponding increase in Ruble-based BTC and USDT volume which indicates an increased awareness and usage of cryptocurrency within Russia and surrounding countries in Eastern Europe.
Federal Reserve Set To Implement 25bps Rate Hike
Finally, due to strong economic data presented by the US government recently, The Federal Reserve is set to implement a 25bps rate hike later this year which could have far reaching implications for global markets including cryptocurrencies such as Bitcoin and Ethereum