CoinVoice recently learned that, according to Jinshi Data, XS.com market analyst Linh Tran stated that the recent outlook for Bitcoin will largely depend on the upcoming U.S. economic data, including preliminary GDP and core personal consumption expenditures inflation. If the data continues to show a slowdown in the U.S. economy and easing inflation, the Federal Reserve will have more ample reasons to initiate a rate-cutting cycle.

"This situation will create a liquidity-rich environment that is favorable for Bitcoin's recovery," Tran said. However, Tran added that if the data is unexpectedly "hot," investors may maintain a defensive posture, extending short-term pullbacks. [Original link]