Bitcoin stabilizes at $59k, awaiting economic data for direction

From Investing.com
August 29, 2024
1:54 AM:

Bitcoin’s price stabilized after recent declines, hovering around $59,339.3. Investors await economic data for next movement. Market darling NVIDIA’s stock drop affects crypto prices. Lower U.S. interest rates influence market sentiment. Inflation and GDP data awaited for rate cues.

Altcoins see modest gains but remain rangebound. Ethereum rises 3% to $2,537.46, while XRP and Litecoin add 0.5% each. Dogecoin drops 2.4% and Solana slides 4.6%. Meme token Shiba Inu rises 1.5%. Institutional investor interest in crypto wanes amidst market uncertainty.

Read more at Investing.com: steady at $59k, more economic cues awaited By Investing.com