BTC Fear & Greed Index is down even though the NASDAQ is down

US economic indicators and the NASDAQ are testing the resilience of investors

On Thursday, US economic indicators and US corporate news sent the Nasdaq and Bitcoin into the red. Better-than-expected US data fueled recession fears, as the numbers support a more aggressive path for the Fed’s rate.

In the week ending December 16, Initial Jobless Claims increased from 214K to 216K. Economists expect an increase to 222 thousand. US GDP numbers for the third quarter were also warmer than expected. In the third quarter, the US economy grew by 3.2%, up from an initial 2.9%. During the second quarter, the economy fell 0.6%.

Adding to the downside, Micron Technology Inc (MU) announced layoffs in response to lower demand for computer chips.

However, Nasdaq’s late recovery from session lows supported Bitcoin’s rebound to end the day unchanged. The NASDAQ and S&P 500 ended the day with losses of 2.18% and 1.45%, respectively.

While there were no cryptocurrency events to provide guidance, Sam Bankman-Fried’s $250 million bail was the big story.

Today, US economic indicators and cryptocurrency news will influence. Inflation and private spending in the US will have the biggest impact. Updates to FTX and regulatory talks should also be considered. This morning the NASDAQ mini index is down 13.5 points.

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