Bitcoin Price Drops: Recession Fears Fuel Short-Term Volatility While Whales Accumulate

Bitcoin’s price dipped below $94,000 on April 30th, a move driven by profit-taking pressure from smaller investors and fueled by recessionary fears. Despite the short-term dip, large whales remain actively accumulating Bitcoin, suggesting a continued bullish outlook despite the market fluctuations. This dynamic is being influenced by recent U.S. GDP data revealing a contraction of -0.3%, which triggered concerns about stagflation. These mixed inflation signals have left investors cautious and prompting market uncertainty around future Fed policy decisions.