Bitcoin’s value dipped below $93,000 following the release of US GDP data, which showed the economy contracted in Q1. This news, coupled with a shrinking domestic market, prompted calls for a Fed rate cut. The crypto market reacted sharply, with Bitcoin plummeting to $92,910 before rebounding. Analysts attribute this recent dip to temporary factors like surging imports ahead of President Trump’s tariffs. Despite the short-term correction, Bitcoin’s fundamentals remain strong, with sustained buy-side demand and increasing institutional investment driving positive price action. 1% down on the day but still holding a higher low pattern and finding resistance near $95,000 before moving into the mid-range for this week, while $95,500 to $96,400 mark aligns with the 61.8% Fibonacci retracement. Further support from spot volumes has increased in the past two weeks, driven by an influx of Bitcoin ETF inflows and recent announcements regarding crypto regulations.