Bitcoin Tumbles Below $73K Amid ETF Outflows and GDP Revision

The personal consumption expenditure (PCE) report came in line with expectations, but Bitcoin still fell below $73,000 after a downward GDP revision and heavy spot ETF outflows.

The Bureau of Economic Analysis revised first-quarter GDP growth to 1.6%, falling short of Wall Street's expectation of 2% growth.

This marked the second consecutive quarter in which GDP growth came in below forecasts, with fourth-quarter growth previously reported at 0.5%, below expectations of 0.7%.

The PCE Index rose 3.8% in April, matching analyst forecasts, but Bitcoin's price dropped 2.7% to around $72,800 over the last 24 hours.