April 30, 2025

Bitcoin sale in USD 95K was a 'profit-taking pressure test'

Bitcoin's reaction to U.S. GDP figures is exaggerated, as data shows that BTC sales in recent days have increased close to the USD 95,000 level as short-term traders take profits.

Key takeaways:

U.S. GDP contracted by 0.3% in the first quarter, well below forecasts of 0.3%, raising fears of recession.

Bitcoin is facing selling pressure with its spot volume delta dropping USD 300 million in 3 days.

Whales are accumulating BTC, but smaller holders are selling, indicating profit-taking.

The price of Bitcoin

BTC

€82,973

fell below USD 93,000 on April 30, after U.S. Gross Domestic Product (GDP) data revealed a contraction of -0.3% in the first quarter. While GDP did not meet the expectations of +0.3%, the GDP Price Index surged to 3.7%, its highest level since August 2023. The probability of a recession in 2025, according to Polymarket, reached 67%, with consumer confidence at its lowest level since May 2020.

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