Bitcoin drops under $93K after US GDP data shows shrinking economy, raising recession alarms
Bitcoin sold off to $92,910 after GDP data showed the negative impact of Trump’s trade war and the heightened chance of a US recession. Will traders buy the dip?
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.
