Bitcoin rebounds above $81,000 as US GDP and inflation data beat forecasts

Bitcoin surged past $81,000 following Thursday’s opening on Wall Street, buoyed by robust US macroeconomic data, as the latest GDP and inflation readings aligned with or outperformed expectations. After a brief dip to $79,607 following the previous day’s close, Bitcoin recovered sharply to $81,547 on Bitstamp. The rebound coincided with key US economic releases, including the Personal Consumption Expenditures (PCE) index and quarterly GDP figures. The Bureau of Economic Analysis reported that the PCE index, the Federal Reserve’s preferred inflation measure, increased 0.5% from August and registered a 3.6% rise year-on-year. Excluding food and energy, the PCE price index climbed 3.1% over the past year. Quarterly GDP data showed the US economy expanded at an annualized rate of 3.4% in the third quarter, beating analyst expectations of 3.2%.

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