Bitcoin rises almost 2% this morning

The bitcoin price rose 1.99% this morning (July 7) to $20,586.

Bitcoin’s upward move this morning came after the Dow Jones Industrial Average rose in a narrow range of just 69 points on Wednesday (July 6) due to pressure from the U.S. bond market. The Federal Reserve’s (Fed) economic forecasts point to a recession.

  • The Dow Jones Industrial Average rose 69.86 points, or 0.23%, to close at 31,037.68 points.
  • The S&P 500 rose 13.69 points, or 0.36%, to close at 3,845.08 points.
  • The Nasdaq rose 39.61 points, or 0.35%, to close at 11,361.85.

The U.S. Department of Commerce will release its first estimate of second-quarter gross domestic product (GDP) on July 28, which will confirm whether or not the U.S. economy has entered a recession.

Investors also worried about the U.S. economy after the Institute for Supply Management (ISM) reported that its services index fell to a two-year low in June. This was in line with the manufacturing index, which also fell to its lowest level in two years.

The Spot Market is Open

Thursday, July 7, 2022

Crypto
Updated at
USD
Price

Change

%Change
11.00 BTC20,457.59+332.46+1.65
11.00 ETH1,173.60+38.19+3.37
11.00 LTC49.96+0.02+0.04
11.00 BNB236.60-0.33-0.14
11.00 XRP0.33+0.01+2.18
11.00 ADA0.46+0.01+1.87
11.00 DOT6.92+0.04+0.58
11.00 DOGE0.07+0.00+1.98
11.00 UNI5.34-0.03-0.50
11.00 LINK6.39+0.15+2.41

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