Bitcoin Jumps on Cool PCE Inflation Data as Bond Yields Hit 20-Year Highs
U.S. PCE inflation came in below forecasts in August, easing pressure on the Fed and lifting Bitcoin above $85,000 before it pulled back to about $84,376. The data shifted October rate expectations toward a hold, which is generally supportive for risk assets, though core inflation remains well above the Fed’s 2% target. Broader markets were mixed: Treasury yields stayed near multi-decade highs, stocks slipped, and macro concerns remained elevated. Bitcoin has been consolidating after a sharp rally from below $75,000 in mid-September to a recent peak near $87,354. Technical indicators remain constructive: the trend is bullish, the 50-day EMA is above the 200-day EMA, and RSI shows room for more upside. Still, BTC is stalling under resistance around $85,600–$87,354, and traders want a decisive daily close above that zone to confirm the next leg higher.
