20250501 Bitcoin Diary #BTC

Last night's GDP data showed negative growth, below expectations, mainly due to companies rushing to import in anticipation of tariffs, resulting in a 5% reduction in net exports' contribution to GDP. However, consumer spending still grew by 1.8%, and business equipment spending increased by 22.5%. The negative impact is limited; BTC quickly rebounded after a sharp decline following Trump's speech. Subsequently, the stronger-than-expected personal spending growth and the steadily declining inflation further boosted market confidence. Currently, BTC has fully recovered from the drop and continues to oscillate in the 94600-95300 range, awaiting the crucial non-farm payroll data on Friday.