Cryptocurrency prices remained relatively unchanged on Thursday, with Bitcoin and Ether prices steady after the US Federal Reserve's widely expected interest rate increase. The latest data of US jobless claims rose by 13,000 to 242,000 last week, which was lightly above expectations of an 11,000 increase in claims. It indicates a possible slowing of the US job market.

Federal Reserve Chair Jerome Powell indicated that this "gradual cooling" of the labor markets might foreshadow an economic soft landing instead of a recession. He also mentioned that a decline in wages growth to a more sustainable level could help reduce inflationary pressures. The Federal Open Market Committee will keep a close eye on wages and their growth, as it will have a major impact in the evaluation of economic conditions and the merits of future rate increases.

In terms of the cryptocurrency trading, both Bitcoin (BTC) and Ether (ETH) were trading at about their respective 20-day moving averages, with BTC exhibiting slightly more strength as it went in a 2.3% range from low to high. It had an RSI of 51, slightly above its 20-day average of 50. Ethereum, on the other hand, was lower, just below the 20-day average, and its RSI of 50.19 exceeded its 20-day average of 48.01, increasing by 10% since April 21st.

Overall, the data indicates that the cryptocurrency market continues to remain relatively stable and with both BTC and ETH exhibiting positive movement and with the RSI levels suggesting further upside, analysts say that the crypto market should continue to remain bullish in the short to medium term.



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