The US Q1 GDP came in below estimates, contracting by 0.3%. Forecasts show a divide, with some models predicting contraction and others growth. The trade deficit is a common feature across estimates, with some attributing negative contribution to it. Bitcoin’s market setup diverges from the traditional macro picture, with inflows continuing despite price pullback. Inflation, interest rate futures, and Treasury yields are all factors affecting the market. Bitcoin is seen as a potential hedge against stagflation, with demand for digital assets remaining strong. Market participants are looking towards upcoming economic updates for further clarity on the market trajectory.

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