Bitcoin and tech stocks fall after U.S. GDP data
After the release of strong US GDP data and cooling personal consumption expenditure (PCE) inflation data on Thursday, Bitcoin and technology stocks fell further. After Thursday's opening, the technology-heavy Nasdaq Composite Index fell 215.43 points, or 1.246%, to 17,126.98 points, while the SP 500 Index fell 21.93 points, or 0.4%. Bitcoin also failed to reverse its recent downward trend, with trading remaining flat over the past 24 hours, staying in the $64,000 range. In addition, according to the FedWatch tool from the Chicago Mercantile Exchange (CME), the probability of a rate cut in September by interest rate traders has been raised to 85.7%.
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
![](https://img.bitgetimg.com/multiLang/image/social/7eccd77d80b500803529d4fd29f9de761725718440605.jpg?fit=460,299)
![](https://img.bitgetimg.com/multiLang/image/social/dece44766146dfd8fb4e6f79340407561725718439937.jpg?fit=460,299)
When Will FTX Refunds, Alleged to Revitalize the Cryptocurrency Market, Start?
FTX refunds, where payments will be made in dollars, could spark movement in the cryptocurrency market.
![](https://img.bitgetimg.com/multiLang/web/d716bc06d972c63aef232727f38dde67.jpeg)
Roaring Kitty returns with cryptic X post, Solana-based CHEWY memecoin soars 28%