Key Takeaways:
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Bitcoin Bulls attacks the $ 95,000 level again after a short US GDP-induced seller-off.
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Entrepreneurs are semi-resorting to the negative US economic data because they expect the Federal Reserve to continue the easing and rate of reduction at some point in the future.
Bitcoin (BTC) price knocked on the door of $ 95,000 after starting the NY Trading session with a slightly seller-off at $ 92,910 following US GDP data alarming, which showed the economy to revolve around Q1 2025. Moving glass of a similar recovery visible to DOW and S&P 500, which is a bounce to mention the closure of the bell.
The rapid recovery of bitcoin prices features a strong bidding through various market participants, and it is lined up that the view that April 30 GDP data can be a one-off event resulting from businesses that destroy their imports leading to President Donald Trump's tariffs in about 90 countries.
While an economic and record-low consumer confidence are valid concerns for Trade investors, the threat of a US shrinkage also performs the thesis investment investment that predicts that various negative economic events will eventually force the federal reserve to cut the rates and the more benefited from the price of bitcoin.
The current odds of a Fed Interest Rate Cut rose this week, from 59.8% on April 29 to 63.8% on April 30.
According to the popular X Trader Skew, the bounce in Bitcoin and US stock is partially driven by “relatively solid beats earnings from large US companies to this day,” which can also “strengthen some confidence in risk.”
The businessman too Says that bitcoin's,
“Flow of spot [was] Passive consumers are mainly driven today, and the price is raised on the taker bid. The rate of fundraising is now formalizing after a few shorts closes. “
Related: Integration -Is with bitcoin prices are likely as US Core PCE, Manufacturing, and Jobs prints this week
Currently, $ 95,500 is the main level of businessman watching, and many analysts believe that a long push through the resisting zone opens the door for a fast moving back to $ 100,000.
It is possible that the May 2 job report, which will show how many jobs were added to the US economy in April, could have little effect on the stock market and, in turn, cryptocurrencies.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
