Bitcoin price is breaking above its consolidation level at $95,000 on Thursday, following a mild pullback the previous day.

US GDP contracted by 0.3% in Q1, missing the expected 0.4% expansion and increasing fears of stagflation.

CryptoQuant data indicates that the Bitcoin supply in profit is approaching a historic euphoria threshold.

Bitcoin (BTC) price is breaking above its key resistance level, trading above $96,000 at the time of writing on Thursday, following a mild pullback the previous day. The decline came as  US GDP data showed a contraction of 0.3% in Q1, spurring recession fears, but BTC’s price fall proved to be short-lived.