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$BTC Bitcoin slid back to the $87,000 level, despite fresh economic data showing the U.S. economy expanded far faster than analysts had anticipated in the third quarter.
According to a delayed GDP report released on Tuesday, stronger-than-expected growth highlighted the resilience of the U.S. economy, a development that would typically support risk assets. However, the cryptocurrency market reacted cautiously, with bitcoin pulling lower as traders reassessed expectations around interest rates, inflation, and the Federal Reserve’s next policy moves.
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In broader crypto-related news, the digital asset industry is reacting to a major political development on Capitol Hill. Senator Cynthia Lummis, widely regarded as one of the most vocal and influential advocates for cryptocurrency regulation in Washington, announced that she will not seek reelection. Her decision has sparked concern across the industry, as Lummis played a key role in pushing for clearer regulatory frameworks and greater institutional acceptance of digital assets in the United States.
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