Bitcoin and Broader Market Choppy Ahead of US GDP Report – Decrypt

🚀 Bitcoin Wobbles Ahead of Key U.S. GDP Report 📉🗓️

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Bitcoin and most of the top 100 cryptocurrencies are in the red ahead of the U.S. GDP release. BTC trades at $60,670. 📉📊

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The finalized U.S. GDP data, a key economic indicator, may influence the Federal Reserve’s interest rate decisions. Overall market cautiousness persists. 📈⚖️

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Earlier statements from the Federal Reserve hinted at only one rate cut for 2024, leading to a crypto market sell-off. Investors are wary of high-interest rates. 🏦📉

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BTC is down roughly 10% month-to-date, driven by the Fed’s hawkish stance and the upcoming Mt. Gox reimbursements, worth nearly $9 billion. 📉💸

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U.S. and German authorities sold substantial amounts of Bitcoin, adding more selling pressure. Ethereum, BNB, and Solana also saw declines. 🇺🇸🇩🇪📊

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Maker, Kaspa, and Ethereum Name Service showed gains amongst the top 100 coins. A few others like Injective and Flare saw minor upticks. 📈💹

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This news was summarized by HAL149, a company specializing in AI-driven assistants to help businesses with tasks like content creation and social media management. Contact us to create your unique news source. 🌐🤖

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#Cryptocurrency #Bitcoin #Ethereum #MarketUpdate #USGDP #InterestRates #CryptoNews #HAL149 #AI

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For more info: https://decrypt.co/237246/bitcoin-and-broader-market-choppy-ahead-of-us-gdp-report?amp=1&rand=6477