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Important Reminder: Q1 GDP report will come in 2 hr near 6pm IST, 8.30AM NY.

-Forecast is 2%, previous was 2.6%.

Gold price showing strength just before release of GDP data.

Number is Important bec market and economist are doing speculation on Recession.  Some believe that US will face recession in next 1 year and some believe that Recession will be light.

GDP above 2% will be good, But these number indicate  that growth will be slow due to high inflation and high interest rate.

Today data also create speculation for upcoming Interest rate hike. The Fed is likely to hike interest rates by a further 25 basis points next week, but expectations are growing that this will represent the peak, with rates set to start falling in the second half of the year.

#Bitcoin behave bullish during Banking Crises and now it will not easy to say that how Bitcoin will be behave in upcoming recession. FEW  believe that Investor see Bitcoin as a alternate to Gold. This sentiment make BTC bullish. As per crypto Cycle and Bitcoin halving, BTC look a good asset for next 2-3 years.

In short term , Market react on GDP number, But we advise to see big picture instead of short term volatility..

Analyst: CryptoGranth

#GDP #FOMC #Binance #crypto2023