Bitcoin price rebounded above $81,000 following the release of US GDP data, which exceeded expectations. The cryptocurrency reached $81,547 on Bitstamp after previously falling to $79,607.
The Bureau of Economic Analysis reported that Q3 GDP grew by 3.4%, surpassing the anticipated 3.2%. Additionally, the September Personal Consumption Expenditures index rose 0.5% month-on-month and 3.6% year-on-year.
The Federal Reserve maintained interest rates at 3.75–4% during the latest FOMC meeting. Chair Kevin Warsh noted that economic activity is expanding at a strong pace despite elevated inflation levels.
Market analysts highlight $81,400 as a critical resistance level for Bitcoin. While the asset shows volatility, it remains focused on overcoming this hurdle before the upcoming weekly candle close.
US stock markets opened lower, influenced by a 12% decline in Alphabet shares following an earnings miss. Meanwhile, Bitcoin is set to conclude October with a 3.3% decline in value.
