According to analysts at ING and energy expert Anas Alhajji (via TradingView and X), Bitcoin (BTC) successfully defended the critical $100,430 support after oil prices reversed early gains despite geopolitical tensions in the Middle East. Oil markets reacted less dramatically than expected to the U.S. airstrike on Iran, with Brent and WTI both erasing most of their initial 3% spikes. BTC rebounded above $101,000, signaling resilience among risk assets as investors discounted the likelihood of a major oil supply disruption through the Strait of Hormuz. This muted oil reaction has reduced immediate stagflation risks, allowing crypto traders to focus on technical support levels. If BTC maintains support above $100,430, bullish momentum could target previous highs near $110,000, while a break below this level may shift attention to the $95,900 region, where the 100- and 200-day SMAs converge. (Sources: TradingView, ING report, Anas Alhajji/X)

According to The Kobeissi Letter on Twitter, new data reveals that US GDP contracted by 0.3% in Q1 2025, defying consensus expectations of 0.3% growth. Additionally, the GDP Price Index surged to 3.7%, marking its highest level since August 2023 (source: @KobeissiLetter, April 30, 2025). For traders, this data signals stagflation risks, which often heighten volatility in risk assets like Bitcoin and Ethereum. The combination of economic contraction and accelerating inflation could pressure the Federal Reserve to delay rate cuts, creating uncertainty in both traditional and crypto markets. Traders should monitor Fed communications closely and anticipate potential risk-off moves as the market digests these developments.