Bitcoin price drops 3% on hot US PCE data as analyst says $84K must hold

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Source: Michaël van de Poppe/XFellow trader TheKingfisher likewise saw little chance of a full bullish comeback on short timeframes.“BTC 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,” he summarized. “With volatility continuing to decline, current conditions appear more in line with a typical market cooldown.

Others 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.“Trend remains to be upwards for $BTC, but it starts to look slightly less good,” trader, analyst and entrepreneur Michaël van de Poppe told X followers on the day. “It's shaking.

While 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.“Core inflation is back on the rise,” trading resource The Kobeissi Letter concluded in part of a response on X, noting that the January numbers had also been revised higher.

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Article Details

Author / Journalist: Cointelegraph by William Suberg

Category: Crypto

Markets: United States

Topics: Data Higher Chart Action Support Bitcoin Price Market Inflation Crypto Trader

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-28 @ 14:20:05 (4 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 479 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 27384930

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