What dragged growth lowerGovernment spending declined, investment weakened, and exports lost momentum. If the Fed focuses on the growth slowdown, it should consider easing. If the Fed interprets the slowdown as the bigger threat and signals potential rate cuts, that would typically be bullish for crypto. But if it decides that inflation, particularly energy-driven inflation, is the more pressing concern and maintains or tightens its current stance, risk assets could face headwinds. The advance estimate is also just that: an advance estimate.