#FedHODL BTC price taps $106K as US GDP miss boosts Bitcoin bull case

Bitcoin continues to flirt with a breakout toward all-time highs as macro tailwinds strengthen.

Bitcoin $BTC sought to preserve $105,000 at the Jan. 30 Wall Street open as US Q4 GDP delivered a “big miss.”

Bitcoin gains as focus switches to US PCE print

Data from Cointelegraph Markets Pro and TradingView showed BTC price strength persevering, with BTC/USD up 2% on the day.

The latest US macro data fell considerably short of expectations, with Q4 GDP coming in at 2.3% versus the forecast 2.5%.

“Immediate response: Yields down, Dollar down, $ETH vs. $BTC up strongly, Altcoins surging,” Crypto trader, analyst and entrepreneur Michaël van de Poppe wrote in part of a reaction on X, calling the result a “big miss.”

“The pendulum starts to change and I think this is going to continue coming period

The S&P 500 and Nasdaq Composite Index both opened up around 0.5%, while the US dollar index (DXY) saw a snap dip to 107.5.

“As predicted GDP is going lower again,” popular crypto commentator Seth continued in his own X post.