Economy News

The effect of US economic data on cryptocurrencies, especially Bitcoin, is becoming more and more obvious.

China’s economic growth for Q3 2024 fell short of government expectations, with a GDP increase of 4.6%, down from 4.7% in the previous quarter.

As inflation in the U.S. approaches the Federal Reserve’s target of 2%, the Fed implemented its first rate cut in September, reducing rates by 50 basis points.

The European Central Bank (ECB) has reduced its main interest rate for the third time this year, cutting it from 3.5% to 3.25%.

In 2024, fears of a looming recession have been a key issue for investors, but those worries are now waning.

Analysts from two of the largest U.S. banks foresee an imminent interest rate cut from the Federal Reserve.

The International Monetary Fund (IMF) forecasts that global public debt will reach $100 trillion by year-end, equating to about 93% of total GDP, primarily driven by excessive spending from the U.S. and China.