{"id":19588,"date":"2025-04-30T17:01:16","date_gmt":"2025-04-30T17:01:16","guid":{"rendered":"https:\/\/gold.creditcard\/bitcoin-drops-under-93k-after-us-gdp-data-shows-shrinking-economy-raising-recession-alarms\/"},"modified":"2025-04-30T17:01:16","modified_gmt":"2025-04-30T17:01:16","slug":"bitcoin-drops-under-93k-after-us-gdp-data-shows-shrinking-economy-raising-recession-alarms","status":"publish","type":"post","link":"https:\/\/gold.creditcard\/es\/bitcoin-drops-under-93k-after-us-gdp-data-shows-shrinking-economy-raising-recession-alarms\/","title":{"rendered":"Bitcoin drops under $93K after US GDP data shows shrinking economy, raising recession alarms"},"content":{"rendered":"

Key points:<\/strong>\u00a0<\/p>\n

US GDP shrank in Q1, raising recession alarms while also prompting calls for Fed rate cuts.<\/p>\n

Bitcoin dropped to $92,910 as GDP figures were released, but sustained buy-side demand could provide support.\u00a0<\/p>\n

Today\u2019s crypto derisking is likely transitory; market fundamentals remain strong.<\/p>\n

Bitcoin (BTC<\/a>) 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.\u00a0<\/p>\n

While the GDP figures are shocking at face value, CNBC pointed out that the drop<\/a> was primarily due to \u201ca surge in imports ahead of President Donald Trump\u2019s tariffs.\u201d Imports are subtracted from GDP, suggesting that the pullback is more transitory than endemic.\u00a0<\/p>\n

After an initial 1% price drop, Bitcoin rebounded back to the $94,000 range as crypto and traditional markets digest today\u2019s news headlines. Beyond the GDP figures, Bitcoin still has multiple positive factors that translate to a continued bid throughout its current price range.\u00a0<\/p>\n

Strong resistance at $95,000 remains, but BTC is holding a pattern of daily higher lows. The overhead resistance at $95,500 to $96,400 is also aligned with 61.8% Fibonacci retracement, which, in the view of technical analysis, tends to be an expected level of resistance.\u00a0<\/p>\n

BTC\/USD Coinbase. Source: TradingView<\/em><\/p>\n

Beyond today\u2019s $41.47 million spike in Bitcoin long liquidations, spot volumes have driven the bulk of BTC bullish price action over the past two weeks, which is another positive.\u00a0<\/p>\n

BTC\/USDT spot and futures cumulative volume delta. Source: TRDR.io\u00a0<\/em><\/p>\n

Related: <\/strong><\/em>Bitcoin macro indicator that predicted 2022 bottom flashes \u2018buy signal\u2019<\/strong><\/em><\/a><\/p>\n

Bitcoin buy demand from all angles could provide price support<\/h2>\n

In the past two weeks, the Bitcoin market has seen:\u00a0<\/p>\n

Spot Bitcoin ETF inflows as of April 29 total $3.02 billion, with BlackRock\u2019s IBIT being a leader among the pack.\u00a0<\/p>\n

An April 24 statement<\/a> from the US Federal Reserve Board of Governors announced that banks can independently and freely move forward with offering crypto-based products and services\u00a0<\/p>\n

Investment banking firm Cantor Fitzgerald partnered with SoftBank, Tether and Bitfinex to launch a $3 billion Bitcoin acquisition company<\/a> called 21 Capital.<\/p>\n

Another $1.42 billion Bitcoin purchase<\/a> from Strategy.<\/p>\n

Coinbase institutional head of strategy John D\u2019Agostino mentioned that sovereign entities<\/a> made Bitcoin purchases during the sell-off below $75,000.\u00a0<\/p>\n

An increasing number of international companies are copying the \u201cMicroStrategy playbook\u201d by dipping their toes into the Bitcoin treasury game.\u00a0<\/p>\n

What is clear is that despite the shrinking US GDP triggering a news headline-driven correction, sustained demand on the buy side and strengthening market structure fundamentals are likely to trump today\u2019s brief downside blip in BTC price.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

\u00a0<\/p>\n

<\/p>","protected":false},"excerpt":{"rendered":"

Key points:\u00a0 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.\u00a0 Today\u2019s crypto derisking is likely transitory; market fundamentals remain strong. Bitcoin (BTC) price took an abrupt tumble as data showed the […]<\/p>","protected":false},"author":0,"featured_media":19589,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-19588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/19588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=19588"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/19588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/19589"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=19588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=19588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=19588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}