US GDP Data Steals Focus, Crypto Market 'Greens' Again!

<p>&nbsp;“Is now the time for the price of BTC to go higher again?”</p><p><br /></p><p>The entire cryptocurrency market including Bitcoin (BTC) managed to see a rise again when the United States (US) Gross Domestic Product (GDP) data release showed a growth rate of 2.1%.</p><p><br /></p><p>Please be informed that the growth rate of 2.1% is still slow which can reflect the overall economic activity of the country including consumer spending, investment and international trade.</p><p><br /></p><p>The figure fell short of growth expectations for an increase of 2.2% observed in US GDP.</p><p><br /></p><p><br /></p><p>Traders and investors will now scrutinize the performance of the US dollar in response to the economic report as currency markets often react quickly if economic data changes.</p><p><br /></p><p>There is no doubt that the crypto market will move against the US dollar, but the situation seems to be quite different today as the price of BTC has crossed the $27,300 level from $26,117 on September 27, 2023.</p><p><br /></p><p>This is because recent macroeconomic events and market uncertainty have eased some of the concerns of crypto investors who have lately been afraid to invest in digital assets that have been found to be moving flat for quite some time.</p><p><br /></p><p>While the future of the crypto market will remain uncertain, many expect further insights into the economy to provide more clarity on the future performance of digital assets.</p><p><br /></p><p>As of this writing, BTC price has jumped 2.32% to $27,050 in the last 24 hours while Ethereum (ETH) has gained 3.06% to $1,657 and Ripple (XRP) has gained 2.27% to $0.51.</p>