Bitcoin retreats from resistance as US GDP beats expectations
Bitcoin retreated from resistance levels following the release of better-than-expected US GDP figures on November 29. The retracement was in line with previous short-term price movements. The GDP data, which showed Q3 growth of 5.2%, raised concerns about how the Federal Reserve would handle policy ahead of an interest rates decision in mid-December. Analysts suggested that Bitcoin was likely to continue consolidating, with some eyeing potential downside opportunities and others predicting a fresh bout of upside volatility.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
With XRP Under Pressure, Major Investors Shift Focus to this Rising Altcoin
Fermion Protocol Redefines Luxury Ownership with $1M Dolce & Gabbana Glass Suit Fractionalization
Why Altcoins Can’t Make the Expected Mega Bullish Move? Analyst Reveals the Main Reason
While Bitcoin is trading near all-time highs, why are many altcoins nowhere near record highs?
Spot Litecoin ETF Under SEC Review Added to DTCC List – What Does It Mean?
Canary's spot Litecoin ETF has been included in the DTCC's ETF list.
Trending news
MoreCrypto prices
More
