Bitcoin bulls are once again attacking the $95,000 level after a brief sell-off prompted by negative US GDP data. Traders seem indifferent to the economic data as they anticipate the Federal Reserve to resume easing and rate cuts in the future. Bitcoin price initially dropped to $92,910 following the alarming US GDP numbers indicating an economic shrinkage in Q1 2025. However, a quick recovery ensued, mirroring the bounce seen in the DOW and S&P 500. The strong bid for Bitcoin highlights market participants’ confidence and the belief that the GDP data might be an anomaly due to businesses increasing imports before potential tariffs. While traditional investors are concerned about a shrinking economy and low consumer confidence, crypto traders see the possibility of a US recession leading to Fed rate cuts and more money issuance, historically benefiting Bitcoin price. The odds of a Fed interest rate cut have increased from 59.8% to 63.8% this week. The bounce in Bitcoin and US stocks was partly driven by positive revenue reports from major US companies, boosting risk confidence. Traders are closely watching the $95,500 level, with many analysts predicting a move back to $100,000 if resistance is breached. The upcoming May 2 jobs report could impact the stock market and cryptocurrencies. This article serves as information and does not offer investment advice. Readers are encouraged to conduct their own research before making investment decisions.