Bitcoin dips below $78K as stocks, gold fall on higher US PCE Inflation data
Bitcoin fell below $78,000 after US July PCE inflation came in hotter than expected, with the annual gauge rising 3.7% versus forecasts of 3.6%. The stronger inflation reading weighed on risk assets, pushing BTC down about 1%, while US stocks opened lower and gold slipped below $4,600 per ounce. Markets were already sensitive after June’s surprise PCE decline, and the data now reinforces that inflation remains well above the Fed’s 2% target. Traders are also watching the Jackson Hole symposium and Nvidia’s earnings for added volatility. On the chart side, Bitcoin remains under pressure from a broader downtrend of lower highs. Analysts say a monthly close below key resistance would confirm another macro lower high, while reclaiming the 50-week EMA near $77,251 is seen as important for a stronger recovery.
