📊 Bitcoin’s $85K Breakout Didn’t Hold
Bitcoin briefly pushed above $85,000 after the August PCE data, but the move quickly lost momentum and price slipped back below $84,000.
The inflation numbers explain why the market stayed cautious.
Headline PCE came in at 3.4% YoY, while core PCE reached 3.0% — both still well above the Fed’s 2% inflation target.
Stocks managed to recover, but Bitcoin couldn’t maintain its initial upside reaction. At the same time, elevated Treasury yields are keeping pressure on risk assets.
For me, the key takeaway is simple: a breakout means very little if Bitcoin cannot hold the level after the catalyst.
I’m watching $85K closely now. A sustained reclaim would change the short-term structure, while another rejection could bring lower support levels back into focus.
$US $AGT $MOVR
#Bitcoin #BTC #crypto #PCE #CryptoMarket
Bitcoin briefly pushed above $85,000 after the August PCE data, but the move quickly lost momentum and price slipped back below $84,000.
The inflation numbers explain why the market stayed cautious.
Headline PCE came in at 3.4% YoY, while core PCE reached 3.0% — both still well above the Fed’s 2% inflation target.
Stocks managed to recover, but Bitcoin couldn’t maintain its initial upside reaction. At the same time, elevated Treasury yields are keeping pressure on risk assets.
For me, the key takeaway is simple: a breakout means very little if Bitcoin cannot hold the level after the catalyst.
I’m watching $85K closely now. A sustained reclaim would change the short-term structure, while another rejection could bring lower support levels back into focus.
$US $AGT $MOVR
#Bitcoin #BTC #crypto #PCE #CryptoMarket
