Bitcoin prices rise after US GDP figures are deemed bearish by Bitcoin buyers.

Takeaways from the conference:

• Bitcoin bulls continue to attack the $95,000 price level after today’s US GDP-induced short selloff.

• The traders are only semi-agnostic about the negative US data, as they believe the Federal Reserve will resume rate reductions and easing at some future date.

BitcoinBTCPrice knocks at the door of 95,000 dollars after the NY session started with a slight increase sell-off to $92,910 After alarming US data on GDP, showing that the economy shrank during Q1 2025. The move mirrors a similar recovery seen in the DOW and S&P 500, which bounced 0.35% and 0.15% respectively at the closing bell. 

Bitcoin’s rapid recovery highlights the demand from various market participants. This is in line with the belief that the GDP numbers for April 30 could be an anomaly due to companies increasing imports prior to President Donald Trump’s tariffs. 

The threat of an American recession is a concern for TradFi’s investors. They believe that the Federal Reserve will be forced to lower rates by a series of economic negative events. issue more dollars — a maneuver which historically has benefitted Bitcoin price.

The odds that the Fed will cut interest rates this week have increased from 59.8% to 63.8%. 

Skew the popular X trader believes that Bitcoin’s rise and US stock prices were partly driven by “pretty solid revenue beats from big US companies so far,” This could be a good idea “bolster some confidence in risk.” 

A trader is also said Bitcoins are a digital currency. 

“Spot flow [was] primarily driven by passive buyers today, and price lifted with taker bid. Funding rate normalizing now after some shorts closing out.” 

Related: Bitcoin price consolidation likely as US Core PCE, manufacturing, and jobs reports print this week

The key trading level is $95,500. Many analysts think that an sustained push past the resistance zone will open the doors to a quick move back up to $100,000.

There’s a chance that the US jobs report on May 2, which shows how many additional jobs have been added to the US economic system in April, will have a minor impact on the market, and in turn, the cryptocurrency.

The article is not intended to provide investment advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.