Bitcoin continued to move higher on Thursday, pushing past $23,000, despite a GDP report that showed second-quarter decline rather than growth. The negative 0.9% reading follows last quarter’s 1.6% decline and missed projections for a 0.5% increase in growth. Still, asset classes across the board responded favorably, with prices in both traditional finance and cryptocurrencies moving higher as investors saw evidence the economy is slowing at a slower, more desirable rate instead of plunging into recession.
Source: https://www.coindesk.com/markets/2022/07/28/market-wrap-bitcoin-pushes-higher-despite-negative-gdp-report/?utm_medium=referral&utm_source=rss&utm_campaign=headlines