Bitcoin Poised for Bullish Breakthrough as Market Awaits Key U.S. Economic Data

According to recent data from TradingView, Bitcoin has displayed relatively stable price movements in anticipation of critical U.S. economic indicators. As investors prepare for the first-quarter GDP data and the March Personal Consumption Expenditures (PCE) index, which is pivotal for gauging inflation, market analysts remain cautiously optimistic. The Kobeissi Letter has noted a consensus predicting the U.S. economy may experience its first GDP contraction since Q2 2022. While significant volatility is expected in risk assets, Bitcoin enthusiasts are confident that a bullish trend may soon emerge. Noteworthy trader Cold Blooded Shiller has emphasized the importance of the next 24 hours for both Bitcoin and the S&P 500, suggesting a potential breakout. Similarly, Michaël van de Poppe asserts that Bitcoin is consolidating, primed for upward movement. Notably, as April progresses, Bitcoin is up 15%, potentially marking its strongest April since 2020.