US Inflation Data Lands In Line — $BTC Holds $80,000. What Happens Next?
The big US inflation report everyone was waiting for is out. The September PCE price index — the Federal Reserve's favourite inflation measure — was released today, October 29, at 5:30 PM PKT, and it came in exactly in line with forecasts.
What happened? Core PCE rose 0.3% in September from August and 3.1% from a year ago, while headline PCE rose 3.6% year on year. US third-quarter GDP also beat expectations, growing 3.4% against a 3.2% forecast. Because the inflation numbers matched forecasts, they did not change market expectations much — traders still see a high chance of a December rate hike after the Fed held rates at 3.75%–4% yesterday.
Bitcoin's reaction: $BTC is trading near $80,225, down about 0.5% in 24 hours, after dipping to a day low near $79,710 and reaching a high near $81,789. It is holding just above the key $80,000 level after the data.
What it means: $80,000 is the support traders are watching — if it holds, the next level up is resistance around $81,500–$82,000. If $80,000 breaks, the deeper support zone analysts point to is near $73,000–$77,600. For now, the market is in wait-and-see mode ahead of the December Fed meeting.
Do you think in-line inflation data is enough for Bitcoin to bounce back above $82,000?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
The big US inflation report everyone was waiting for is out. The September PCE price index — the Federal Reserve's favourite inflation measure — was released today, October 29, at 5:30 PM PKT, and it came in exactly in line with forecasts.
What happened? Core PCE rose 0.3% in September from August and 3.1% from a year ago, while headline PCE rose 3.6% year on year. US third-quarter GDP also beat expectations, growing 3.4% against a 3.2% forecast. Because the inflation numbers matched forecasts, they did not change market expectations much — traders still see a high chance of a December rate hike after the Fed held rates at 3.75%–4% yesterday.
Bitcoin's reaction: $BTC is trading near $80,225, down about 0.5% in 24 hours, after dipping to a day low near $79,710 and reaching a high near $81,789. It is holding just above the key $80,000 level after the data.
What it means: $80,000 is the support traders are watching — if it holds, the next level up is resistance around $81,500–$82,000. If $80,000 breaks, the deeper support zone analysts point to is near $73,000–$77,600. For now, the market is in wait-and-see mode ahead of the December Fed meeting.
Do you think in-line inflation data is enough for Bitcoin to bounce back above $82,000?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
