Bitcoin takes a breather ahead of the U.S. GDP release having rallied 8% on Wednesday, reports godbole17.
Bitcoin awaits the release of U.S. data that's expected to show the world's largest economy narrowly avoided entering a recession in the second quarter, having drawn relief from Federal Reserve messaging on Wednesday.
Risk assets, including bitcoin, could rally if GDP unexpectedly contracts for a second straight quarter, confirming a technical recession. A recession would bolster investors' expectations of slower interest-rate increases and eventual easing of constraints on money supply.
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