Date: 2025-04-30
Key points: US GDP shrank in Q1, raising recession alarms while also prompting calls for Fed rate cuts.Bitcoin dropped to $92,910 as GDP figures were released, but sustained buy-side demand could provide support. Today’s crypto derisking is likely transitory; market fundamentals remain strong.Bitcoin (BTC) price took an abrupt tumble as data showed the US gross domestic product (GDP) retracting by 0.3% in Q1, raising alarms among analysts anticipating a recession. Following the news, BTC price dropped to an intra-day low of $92,910, while the DOW and S&P 500 fell by 1% and 1.3% respectively. While the GDP figures are shocking at face value, CNBC pointed out that the drop was primarily due to “a surge in imports ahead of President Donald Tru...
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