Bitcoin price reclaims $80K as US GDP beats forecasts

Bitcoin price has reclaimed the $80,000 level after briefly falling below it earlier on Thursday, as fresh US economic data showed stronger than expected growth in the third quarter and persistent inflation in September. Bitcoin price has reclaimed the $80,000 level after briefly falling below it earlier on Thursday, as traders assessed the latest US economic data. The US economy grew at an annualized rate of 3.4% in the third quarter, beating the 3.2% forecast, while annual core PCE inflation reached 3.1% in September. Stronger economic growth and persistent inflation could encourage the Federal Reserve to keep interest rates elevated, potentially putting pressure on Bitcoin's recovery. Bitcoin faces immediate resistance near $81,400, followed by the $82,000 to $82,500 range, while $80,000 remains an important level for traders to watch.

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