Bitcoin dips below $78K as stocks, gold fall on higher US PCE inflation data

Bitcoin slipped under $78,000 following the Wall Street open on Wednesday after U.S. inflation data for July came in above expectations.

Higher‑than‑expected PCE data pressures risk assets

The U.S. Personal Consumption Expenditures (PCE) price index rose 0.1% month‑on‑month in July, reaching a year‑on‑year rate of 3.7%, slightly above the forecast 3.6%. The Bureau of Economic Analysis confirmed the increase, noting a 0.2% rise in the overall index and a 0.2% rise in the core index that excludes food and energy.

TradingView data showed Bitcoin losing up to 1% on the day, while U.S. equities opened lower and gold fell below $4,600 per ounce.

Market outlook and upcoming catalysts

Investors are looking ahead to Nvidia’s second‑quarter earnings report, expected to show $92.3 billion in revenue, and to the Federal Reserve’s Jackson Hole symposium, where Chair Kevin Warsh is slated to speak.

Technical perspective

Analyst Rekt Capital highlighted that Bitcoin’s monthly chart continues to form lower highs since October 2025. He warned that a close below the identified resistance level could reinforce a macro‑level downtrend. The 50‑week exponential moving average at $77,251 is cited as a key trend line to watch.