US GDP Grew 2.1% in Q1; Crypto Markets Barely Reacted

The US economy expanded at a 2.1% annualized rate in the first quarter, the Commerce Department said Thursday. Crypto markets barely moved.

Bitcoin ended the session flat near $42,000. Ethereum rose 1.1%. XRP fell 0.4%. Solana lost 1.3%.

The muted reaction fits a pattern of decoupling from macro data, several traders said. Instead of reacting directly to growth figures, crypto markets filter them through expectations for Federal Reserve policy and the dollar.

The GDP release fell on a busy data day. Jobless claims and pending home sales also hit. That diluted the impact of any single report, one liquidity provider said.

Ethereum's gain contrasted with Solana's fall, suggesting idiosyncratic factors drove the split. Traders pointed to network-specific news: Solana's mainnet experienced a brief outage earlier in the week.

The next catalyst is Friday's Core PCE price index, a preferred Fed gauge. A number above 2.8% would pressure crypto, traders said. A print near 2.5% would support a rate-cut narrative.

For background on recent Bitcoin price action and broader crypto market trends, see related analysis.