#AltcoinETFsPostponed

Bitcoin price falls as US economy shrinks for first time in three years

Bitcoin fell below $95,000 on Wednesday after the US Bureau of Economic Analysis said the economy shrank at an annual rate of 0.3% in the first quarter, highlighting recession fears linked to tariffs imposed by US President Donald Trump.

Economists had expected the US economy to grow at an annual rate of 0.3% in the three months ending in March; however, Wednesday's reading marked the first quarterly decline in economic growth since the first quarter of 2022, according to Trading Economics.

Bitcoin was recently around $94,300, dropping immediately after Wednesday's snapshot, according to cryptocurrency data provider CoinGecko. Altcoins fluctuated, with Ethereum and Solana both falling 3% to $1,760 and $143, respectively, over the past day