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Bitcoin beats falling US GDP growth trend as Q1 data risks stagflationary economy

Bitcoin's appeal as a macro hedge grows amid US economic slowdown and inflation concerns.

CryptoSlate

Apr 30

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Happy Wednesday!

As the U.S. economy flirts with stagflation-slowing GDP growth and persistent inflation-Bitcoin is breaking away from traditional market trends, rallying as investors seek out macro hedges and alternative safe havens. Meanwhile, regulatory uncertainty lingers as the SEC delays decisions on five crypto ETFs, with analysts now eyeing October for final rulings. In a sign of growing mainstream acceptance, Nasdaq has filed to list a 21Shares Dogecoin ETF, expanding the ETF landscape beyond just Bitcoin and Ethereum. Dive into today's top stories shaping the next chapter of crypto.

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The global crypto market cap is $2.93 trillion, with a 24-hour volume of $81.32 billion. The price of Bitcoin is $94,012.44, and BTC market dominance is 63.8%. The price of Ethereum is $1,764.98, and ETH market dominance is 7.3%. The best-performing sector is eCommerce, which gained 2%. The Crypto Fear & Greed Index is currently Neutral (56).