 BTC price taps $106K as US GDP miss boosts Bitcoin bull case 
2025-01-30
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Bitcoin BTCUSD sought to preserve $105,000 at the Jan. 30 Wall Street open as US Q4 GDP delivered a “big miss.”
Bitcoin gains as focus switches to US PCE print 
Data from Cointelegraph Markets Pro and TradingView showed BTC price strength persevering, with BTCUSD up 2% on the day.
The latest US macro data fell considerably short of expectations, with Q4 GDP coming in at 2.3% versus the forecast 2.5%.
“Immediate response: Yields down, Dollar down, $ETH vs. $BTC up strongly, Altcoins surging,” Crypto trader, analyst and entrepreneur Michaël van de Poppe wrote in part of a reaction on X, calling the result a “big miss.” 

The S&P 500 and Nasdaq Composite Index both opened up around 0.5%, while the US dollar index (DXY) saw a snap dip to 107.5.
“As predicted GDP is going lower again,” popular crypto commentator Seth continued in his own X post. 

The result placed additional scrutiny on the Federal Reserve, which the day prior had opted not to cut interest rates despite the insistence of President Donald Trump. The latest estimates from CME Group’s FedWatch Tool put the odds of a cut occurring at the Fed’s next dedicated meeting in March at just 18%.
The day’s other macro print in the form of initial and continuing jobless claims also came in below forecasts, potentially bolstering the Fed’s ability to hold rates higher for longer.
“Focus will be on consumption growth & prices paid again,” popular trader Skew concluded, referencing the Personal Consumption Expenditures (PCE) Index numbers due Jan. 31.
BTC price eyes breakout beyond key level
On Bitcoin itself, Skew saw reason for modest optimism after weeks of sideways BTC price action.
“Price around $105K now, meaning market has recovered losses from early week fallout,” he told X followers while analyzing 4-hour timeframes.

He added that were BTCUSD to break out, altcoins could still reap the benefits.
“Strong BTC will likely revive the market again especially given the ripe opportunities in crushed alts with good narratives,” he wrote.
Fellow trader Anbessa meanwhile described the latest uptick as “textbook” price performance.
“Next key level to reclaim $106,5k. Strong signal if consolidation above,” he argued about the 4-hour chart.
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