Bitcoin rebounds above $80,000 after US PCE inflation data meets expectations, while Fed policy uncertainty, market liquidations, and geopolitical tensions keep BTC and Ethereum under pressure.
Summary
- Bitcoin price recovered above $80,000 after September’s US inflation report showed prices rising at the expected pace.
- The rebound followed a volatile session as traders weighed the Federal Reserve’s interest rate decision and uncertainty surrounding the US-Iran conflict.
- Annual inflation increased from 3.4% in August, according to the Bureau of Economic Analysis.
- US SEPTEMBER PCE INFLATION RISES TO 3.6%, MATCHING EXPECTATIONS Headline PCE inflation rose 0.5% month over month, matching forecasts and accelerating from 0.3% in August.
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