Bitcoin price reclaims eighty thousand dollars after strong economic data
Image: CointelegraphBitcoin reclaimed the $80,000 level after dropping below it earlier in the session. The US economy grew at an annualized rate of 3.4% in the third quarter, beating the 3.2% forecast. Annual core PCE inflation reached 3.1% in September. The Federal Reserve kept interest rates unchanged at 3.75% to 4.00%. US stock markets opened lower as Alphabet fell following an earnings miss. Bitcoin faces immediate overhead resistance near $81,400.
Key points
- The US economy grew at an annualized rate of 3.4% in the third quarter, exceeding the 3.2% forecast.
- Annual core PCE inflation reached 3.1% in September.
Why it matters
Traders are assessing macroeconomic growth data and inflation reports alongside Federal Reserve interest rate policy to gauge potential market direction for Bitcoin.
Price context · BTC
At publication
$81,662.00
Now
$81,140.00
Change since
−0.64%
7 days · dashed line = publication
Sources · 2 publishers
Cointelegraph
Tier 1
Bitcoin price jumps to $81.5K as US GDP data beats expectations
Coverage timeline
- First reported by Crypto.news
- Also reported by Cointelegraph
- CryptoVideos brief published
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