The Atlanta Fed’s GDPNow model forecasts a significant first-quarter contraction of -3.7% for U.S. real GDP. This stark revision comes after earlier estimates of +3.9% two months ago, +2.3% one month ago, and -1.8% just two weeks ago. Amid this economic uncertainty, Bitcoin remains resilient. Currently trading above $85,000, it shows little change from the previous day. Bitcoin’s current price is 25% below its all-time high of $109,000 reached on January 20. Compared to major tech stocks, Bitcoin’s performance is notable. Apple, Microsoft, Amazon, Meta, Google, NVIDIA, and Tesla are down 17%, 22%, 24%, 25%, 26%, 32%, and 50% respectively from their peaks. Historically, Bitcoin has shown increased resilience. In 2022, it fell 75% from its peak to $15,500, while the Nasdaq-100 ETF (QQQ) dropped 34%. This year, Bitcoin’s decline of 30% versus QQQ’s 16% indicates a relative drawdown of 1.87 times, suggesting Bitcoin’s growing stability despite its volatility.
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