Bitcoin drops under $93K after US GDP data shows shrinking economy, raising recession alarms
Summary
Bitcoin's price dropped sharply as the US GDP retracted by 0.3% in Q1, sparking recession concerns. BTC fell to an intra-day low of $92,910, while the DOW and S&P 500 also declined. The GDP drop was largely due to increased imports before tariffs, suggesting a temporary issue. Bitcoin rebounded to $94,000 as markets processed the news. Despite resistance at $95,000 and $95,500-$96,400, BTC maintains higher daily lows. Spot volumes have driven recent bullish action, and strong buy demand may support prices despite the GDP-related dip.
