Bitcoin Breaks Lower As US GDP Slows To 1.6%, Hints At Hot PCE Inflation

Bitcoin and the broader financial markets faced a downturn as the United States’ Gross Domestic Product (GDP) revealed sluggish growth in the first quarter of 2024, casting a shadow on investor confidence. With the first quarter GDP figures falling short of expectations at a 1.6% annualized pace, concerns about inflationary pressures loom large, amplifying market volatility.