Analyst: The recent outlook for Bitcoin may depend on U.S. economic data.

According to ChainCatcher news and Jin10 data reports, XS.com market analyst Linh Tran stated that the recent outlook for Bitcoin will largely depend on the upcoming U.S. economic data, including preliminary GDP and core personal consumption expenditures inflation. If the data continues to show a slowdown in the U.S. economy and easing inflation, the Fed will have more ample reasons to initiate a rate cut cycle. “This situation will create a liquidity-rich environment conducive to the recovery of Bitcoin,” Tran said. However, Tran added that if the data turns out to be unexpectedly “explosive,” investors may maintain a defensive posture and prolong the short-term pullback.