The U.S. Economy saw a contraction, raising fears of recession. Bitcoin dropped to $93,300, reflecting market reactions. However, analysts believe that interest rate cuts could provide a bullish environment for Bitcoin, drawing investor attention as a hedge against dollar weakness.
Investor sentiment is shifting positively towards Bitcoin as a potential safe haven. Signs indicate a growing confidence in rate cuts by the Federal Reserve, which could bolster Bitcoin’s appeal amidst economic uncertainties.
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