Source: Cointelegraph.com NewsBitcoin (BTC) sought a local bottom on March 28 while US inflation data came in higher than expected.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/p>\n
Bitcoin wobbles as PCE comes in hot Source: Cointelegraph.com NewsBitcoin (BTC) sought a local bottom on March 28 while US inflation data came in higher than expected.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView Bitcoin wobbles as PCE comes in… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126013"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126013"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126013\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126013"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nData from Cointelegraph Markets Pro and TradingView showed BTC\/USD heading to $85,500 at the Wall Street open before reversing.
\nDown over 3% on the day, the pair saw lows under $84,500 on Bitstamp, marking its lowest levels since March 23.
\nThe February print of the US Personal Consumption Expenditures (PCE) Index subsequently showed inflation quickening \u2014 in contrast to the result from a month prior.
\nWhile the month-on-month and year-on-year PCE tally conformed to market forecasts at 0.3% and 2.5%, respectively, their core PCE equivalents were both 0.1% higher than anticipated.
\n\u201cCore inflation is back on the rise,\u201d trading resource The Kobeissi Letter concluded in part of a response on X, noting that the January numbers had also been revised higher.
\nKobeissi argued that the current macroeconomic trajectory forms \u201cthe perfect recipe for stagflation in 2025.\u201d\u00a0
\n\u201cMarch inflation data will be even more telling as the trade war rages on,\u201d it wrote.
\nUS PCE % change (screenshot). Source: Bureau of Economic Analysis
\nBTC price analysis sees \u201ctypical market cooldown\u201d
\nWhile BTC price action appeared to shake off the inflation warning, market participants were ready for surprises.
\nRelated: ‘Bitcoin Macro Index’ bear signal puts $110K BTC price return in doubt
\n\u201cPCE data coming up so it’s going to be a volatile day in the markets I reckon,\u201d popular trader Daan Crypto Trades thus wrote in part of his own X reaction.
\nOthers maintained doubts over broader crypto market strength, agreeing that Bitcoin was not yet out of the woods despite holding above $80,000 for several weeks.
\n\u201cTrend remains to be upwards for $BTC, but it starts to look slightly less good,\u201d trader, analyst and entrepreneur Micha\u00ebl van de Poppe told X followers on the day.\u00a0
\n\u201cIt’s shaking. Drop sub $84K and I think we’ll see a test at $78-80K and perhaps lower before we’ll bounce back up.\u201d
\nBTC\/USDT 12-hour chart with relative strength index (RSI) data. Source: Micha\u00ebl van de Poppe\/XFellow trader TheKingfisher likewise saw little chance of a full bullish comeback on short timeframes.
\n\u201cBTC While the short term price action may suggest a localized squeeze, the broader outlook doesn’t yet support the narrative of a sustained bull run,\u201d he summarized.\u00a0
\n\u201cWith volatility continuing to decline, current conditions appear more in line with a typical market cooldown. We could be approaching a seasonal reset, potentially front-running the familiar \u2018sell in May and go away\u2019 dynamic.\u201d
\nBTC\/USDT 4-hour chart with volume data. Source: TheKingfisher\/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"