US economy beats forecasts as Bitcoin slips

Bitcoin declined despite stronger than expected United States economic growth data.

The Bureau of Economic Analysis reported third quarter GDP growth of 4.3 percent.

Economists had forecast expansion of roughly 3.2 percent for the period.

Equity markets edged higher while bitcoin fell about two percent after release.

The decline triggered heavy liquidations in crypto derivatives markets.

Data from Coinglass showed long positions suffered losses exceeding seventy million dollars.

The GDP report was delayed nearly two months because of a government shutdown.

Consumer spending exports and government outlays were the main drivers of growth.

Domestic investment declined and partially offset the broader economic gains.

Q3 GDP came in at 4.3 percent blowing past expectations.

Donald Trump said.

He argued strong growth would normally lift markets but sentiment has shifted.

Traders interpreted the data as increasing the risk of higher interest rates.

Bitcoin prices have behaved unpredictably since major liquidation events in October.

At publication bitcoin traded near eighty seven thousand dollars with modest weekly gains.