Key points:
- Bitcoin pumps 3.5% to $69,500.
- US GDP flags slower growth pace.
- OG token is up a solid 20% in May.
Illustration by TradingView
Rallying crypto prices ignited hopes of another leg higher less than three months after Bitcoin’s record. Is it going to last?
- Bitcoin prices (BTCUSD) surged on Thursday and remained well-bid Friday morning after the latest batch of US data swept financial markets. America’s economy, measured by the gross domestic product, didn’t expand as much as anticipated and the news sent shockwaves across all asset classes. With Bitcoin, the rally was particularly strong — prices jumped 3.5%, from $67,000 to $69,500 per token.
- US GDP growth in the first three months on an annualized pace came in at 1.3%, missing the forecast for 1.6%. What does it mean? American consumers spent less in the January through March period, indicating that there has…
