Bitcoin Slips to $93,000 as U.S. GDP Decline Stokes Recession Fears

Crypto markets fell for a second day after the Commerce Department revealed that the economy contracted in Q1, raising concerns that President Trump’s tariff policies may be driving the U.S. toward a recession. U.S. gross domestic product (GDP) declined by 0.3% in the first quarter, well below economists’ expectations for a 0.3% gain, and marking the lowest reading since Q2 2022. “Multiple indicators are now showing a recession to be the base case expectation in 2025. Trump says the short-term pain is worth the long-term gain from tariffs. Will the short-term pain be worth it?” wrote The Kobeissi Letter. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant