Bitcoin and tech stocks fall after U.S. GDP data

07/25 15:21

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After the release of strong US GDP data and cooling personal consumption expenditure (PCE) inflation data on Thursday, Bitcoin and technology stocks fell further. After Thursday's opening, the technology-heavy Nasdaq Composite Index fell 215.43 points, or 1.246%, to 17,126.98 points, while the S&P 500 Index fell 21.93 points, or 0.4%. Bitcoin also failed to reverse its recent downward trend, with trading remaining flat over the past 24 hours, staying in the $64,000 range. In addition, according to the FedWatch tool from the Chicago Mercantile Exchange (CME), the probability of a rate cut in September by interest rate traders has been raised to 85.7%.

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