Bitcoin bulls make a strong comeback as traders shrug off negative US economic data and aim to retake the $95,000 mark.
Bitcoin bulls are making another push toward the $95,000 mark following a short-lived sell-off triggered by US GDP data.
Traders remain somewhat indifferent to disappointing US economic indicators, anticipating that the Federal Reserve will return to easing and implement rate cuts.
Bitcoin (BTC), currently priced at $94,205, is edging toward the $95,000 mark after opening the New York session with a brief dip to $92,910, triggered by concerning US GDP data revealing an economic contraction in Q1 2025. This rebound mirrors similar recoveries in the DOW and S&P 500, which closed up 0.35% and 0.15%, respectively.
Bitcoin’s swift recovery signals strong demand across a broad range of investors and aligns with the perspective that the April 30 GDP decline may be a temporary effect, possibly caused by businesses accelerating imports in anticipation of President Donald Trump’s planned tariffs on around 90 countries.
While traditional finance (TradFi) investors remain wary of economic slowdown and plummeting consumer confidence, crypto traders see these risks as reinforcing their thesis: that worsening economic conditions will pressure the Federal Reserve to cut interest rates and increase dollar issuance — a policy move that has historically supported Bitcoin’s price growth.
