Bitcoin (BTC) rebounded above $81,000 on Thursday, reaching $81,547 after stronger-than-expected US economic growth data boosted market attention. The cryptocurrency recovered from a low of $79,607 as investors assessed inflation figures and the latest corporate earnings reports.
US third-quarter GDP growth came in at 3.4%, exceeding the 3.2% forecast. Meanwhile, the Personal Consumption Expenditures (PCE) price index rose 3.6% year-on-year in September, in line with expectations, while core PCE inflation stood at 3.1%. Despite the encouraging economic data, US stock markets opened lower after Alphabet shares fell around 12% following disappointing third-quarter earnings and revenue figures.
The US Federal Reserve kept interest rates unchanged at 3.75%–4% at its latest meeting, describing economic activity as strong while noting that inflation remained elevated. The decision was broadly in line with market expectations.
Crypto analyst Rekt Capital identified $81,400 as a key resistance level for Bitcoin, saying the price needs to reclaim this level by the weekly close to strengthen its near-term position. Bitcoin continued to fluctuate around key weekly levels, while its monthly performance pointed to a potential 3.3% decline in October.
