Key Takeaways:
US GDP shrank -0.3% in Q1, far below +0.3% forecasts, sparking recession fears.
Bitcoin faces selling pressure with its spot volume delta dropping $300 million in 3 days.
Whales are accumulating BTC, but smaller holders are selling, hinting at profit-taking.
Bitcoin’s (BTC) price dropped under $93,000 on April 30, after the US Gross Domestic Product (GDP) data revealed a -0.3% contraction in Q1. While the GDP missed expectations of +0.3%, the GDP Price Index soared to 3.7%—the highest since August 2023. Polymarket odds of a recession in 2025 hit 67%, with consumer confidence at its lowest since May 2020.
Quarterly US GDP growth data. Source: X.com
Meanwhile, in March 2025, PCE (Personal Consumption Expenditures) inflation fell to 2.3% (above the expected 2.2%), and Core PCE dropped to 2.6% (in line with expectations). Still, February’s Core PCE was revised from 2.8% to 3.0%, signaling mixed