Bitcoin's price dropped to $92,910 following the release of US GDP data revealing a 0.3% contraction in Q1, prompting recession concerns. Analysts noted that this decline was largely influenced by increased imports ahead of tariffs imposed during Trump's trade war, indicating that the GDP pullback might be temporary rather than a sign of persistent weakness. After an initial drop, Bitcoin recovered to the $94,000 range as the market began to digest the news. Despite resistance at $95,000, there is sustained demand in the market, supported by recent positive developments including substantial inflows into Bitcoin ETFs and moves from banks to offer crypto products. Overall, while today's economic news triggered a temporary correction, the underlying market fundamentals and buy-side interest suggest a potential rebound for Bitcoin.

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