Bitcoin Holds $105,000 Amid Weaker U.S. Q4 GDP Report

The post Bitcoin Holds $105,000 Amid Weaker U.S. Q4 GDP Report appeared first on Coinpedia Fintech News

Bitcoin aimed to hold $105,000 when the U.S. Q4 GDP report came in lower than expected at 2.3%, missing the forecast of 2.5%. Analyst Michaël van de Poppe pointed out that the market quickly responded to the GDP result, with yields and the dollar falling, Ethereum rising sharply compared to Bitcoin, and altcoins seeing significant gains. He referred to the GDP result as a “big miss” because it did not meet expectations. This weaker GDP report increased focus on the Federal Reserve, which recently chose not to cut interest rates despite President Trump’s push. The odds of a rate cut in March are now just 18%, according to CME Group’s FedWatch Tool.