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Analysis: The contraction of the US GDP and the slowing of inflation may drive the Federal Reserve to cut interest rates, which could benefit Bitcoin.
According to Mars Finance, the U.S. GDP has contracted for the first time in three years, and the core PCE inflation rate has remained flat, decreasing year-on-year from 3.0% to 2.6%, alleviating inflation concerns. BRN analyst Valentin Fournier stated that inflation is approaching the Federal Reserve's 2% target, and market expectations for interest rate cuts are increasing, which could be favourable for alternative assets like Bitcoin, rather than the stock market. Bitcoin has risen over 13% since "Liberation Day," reaching $97,000, with a net inflow of $442 million into Spot ETFs on May 1. Douro Labs CEO Mike Cahill mentioned that if the employment data on May 2 is weak, Bitcoin's price may rise again due to expectations of interest rate cuts. (The Block)