Bitcoin’s price fell back to $111,300 today, with altcoins experiencing daily losses exceeding 10%. At the same time, Fed member Miran reiterated the view that interest rates remain high, noting that the impact of tariffs on inflation is limited. The US GDP data has just been released.
Breaking Down the Latest US Data
The newly released data represents the final figures for the three-stage GDP report, showing how much the US economy grew from the previous quarter. Positive growth indicates an expanding economy, alleviating recession concerns. A trend of decreasing unemployment and rising incomes boosts market motivation. However, if growth figures exceed expectations, it could restrict potential interest rate cuts, leading cryptocurrency investors to hope for figures at or below expectations.
Additionally, new jobless claims and durable goods orders data have been announced. Last week, initial jobless claims came in below expectations, leading to accelerated declines in cryptocurrencies.
- US Initial Jobless Claims Announced: 218K (Expectation: 233K, Previous: 231K)
- US GDP Announced: 3.8% (Expectation: 3.3%, Previous: 3.3%)
- US Durable Goods Orders Announced: 2.9% (Expectation: -0.3%, Previous: -0.3%)
Implications for Cryptocurrency Markets
The figures signal a potential weakening in unemployment, which may delay the necessary rate cuts for cryptocurrencies. Consequently, Bitcoin 
$77,196 may experience further declines in the coming hours. Additionally, if tomorrow’s PCE data exceeds expectations, the downturn could accelerate further.
