Bitcoin is trading lower following soft US GDP data.
Portfolio Pulse from Benzinga Newsdesk
Bitcoin's value has decreased in response to weaker than expected US GDP data, indicating a potential impact on investor sentiment towards cryptocurrencies.
April 25, 2024 | 1:22 pm
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NEGATIVE IMPACT
Bitcoin's price has fallen due to disappointing US GDP data, reflecting concerns over economic growth and its effect on cryptocurrency markets.
The decline in Bitcoin's value is directly tied to the release of weaker than expected US GDP data, which tends to influence investor sentiment and can lead to decreased demand for riskier assets like cryptocurrencies.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90