Bitcoin Holds Stable Above $20K, Ether Is Flat, Dogecoin Rising

Bitcoin (BTC) slumped but still traded comfortably above $20,000 as investors chewed on a surprising gain in the latest US GDP report. The US Department of Commerce reported that gross domestic product rose 2.6% in the third quarter, instead of the projected increase of 2.4%. The rise followed two consecutive declines that, by traditional definitions, sent the economy into recession and suggested that the contraction would intensify. Central bankers have tried to tame inflation without plunging the economy into a steep recession. The latest GDP suggested that their monetary hawkishness is not yet having a full impact. On Tuesday, BTC hit $20,000 for the first time since October 5.

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