US GDP misses goal as Bitcoin price seeks to erase 'ultra nasty' 7% dip
A brisk slowdown in GDP fails to offer any direction for crypto markets, with Bitcoin slowly claws back lost ground below $30,000. Bitcoin (BTC) stuck to $29,000 at the April 27 Wall Street open as United States GDP growth missed expectations. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. GDP figures reveal surprise slowdown Data from Cointelegraph Markets Pro and TradingView showed BTC/USD once again stagnant after flash volatility the day prior. The largest cryptocurrency had liquidated over $300 million in long and short positions after a snap correction over claims that Mt. Gox and U.S. government bitcoins had left their wallets. A subsequent rebound rescued some of the losses, but $30,000 remained out of reach as macro data failed to offer a suitable catalyst. This came in the form of GDP growth, which at 1.1% fell far short of predictions. US economy is losing steam: The US GDP grew 1.1% in Q1 2023 ann, slower than the expected 1.9% & slower than previous ...