Bitcoin's Outlook Hinges on Upcoming U.S. Economic Data

According to BlockBeats, XS.com market analyst Linh Tran has indicated that Bitcoin's near-term outlook is largely dependent on forthcoming U.S. economic data, including preliminary GDP and core personal consumption expenditure inflation figures. Tran suggests that if the data continues to show an economic slowdown and easing inflation in the U.S., the Federal Reserve may have stronger grounds to initiate a rate-cutting cycle. Tran noted that such a scenario would create a liquidity-rich environment, potentially benefiting Bitcoin's recovery. However, Tran also cautioned that if the data unexpectedly shows strong economic performance, investors might adopt a defensive stance, prolonging a short-term pullback.