Crypto Market in Turmoil: Bitcoin Dips Below $88K as GDP Data LoomsThe crypto market is in a slump today, with Bitcoin falling to $87,500 after failing to maintain its position above $90K earlier in the week. Major CoinDesk indexes are down over two percent in the last 24 hours, but a few smaller tokens like HASH and RAIN are bucking the trend with six percent gains. This weakness is surprising, as the dollar index has dropped below 98, typically boosting risk assets like crypto. Gold and precious metals are also rallying, and traditional stock futures are flat. Analysts are puzzled by the shift in risk appetite, with Alex Kuptsikevich from FxPro noting the sell-off in global bonds alongside the crypto dip. He predicts further declines in crypto over the coming weeks, potentially impacting stocks and emerging market currencies. The spotlight is on todays third-quarter GDP estimate, with a weaker number potentially sparking fresh demand for Bitcoin and pushing it back above $90K. Keep an eye on other releases like durable goods orders and consumer confidence, as they could influence sentiment further into the week.

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