TechFlow news, on August 20, according to CoinDesk, although U.S. leading economic indicators continue to decline, they are no longer signaling a recession. According to data from The Conference Board, a non-profit research organization, the Leading Economic Index (LEI) dropped 0.6% to 100.4 in July, a wider decline compared to the 0.2% drop in June. This development is a positive signal for risk assets including cryptocurrencies.
Despite ongoing economic headwinds, the annualized six-month change in LEI narrowed from -3.1% in June to -2.1% in July, suggesting that recession risks are diminishing. Earlier market panic triggered by weak non-farm payroll data led to sharp declines in both stocks and Bitcoin. However, as market sentiment improves, Bitcoin has rebounded from $50,000 to above $60,000.
