#StablecoinPayments The Fed's rate cut will drive BTC prices up

Data from Cointelegraph Markets Pro and TradingView showed that Bitcoin surged hours after dropping below USD 93,000 following the U.S. GDP data that reflected a contracting economy.

A contracting economy is likely to lead the Federal Reserve to lower rates to stimulate activity sooner rather than later. This reduces the yields on traditional assets like bonds, pushing investors towards Bitcoin and risk assets.

The odds of a Fed interest rate cut during the Federal Open Market Committee meeting on June 18 have increased over the past week, from 57% on April 30 to 60% on May 1.