Bitcoin price jumps to $81.5K as US GDP data beats expectations

Bitcoin (BTC) rebounded above $81,000 after Thursday’s Wall Street open as US GDP numbers stayed strong and inflation data conformed to estimates.

Bitcoin jumped to $81,547 on the back of strong US macro data, dismissing Alphabet’s Q3 earnings miss.

US PCE data conformed to expectations at 3.6% year-on-year, while Q3 GDP came in higher at 3.4% versus 3.2% expected.

BTC/USD needs to reclaim $81,400 by the weekly close, per analysis by Rekt Capital.

Bitcoin brushes off Alphabet earnings miss

Data from TradingView showed BTC/USD reaching $81,547 on Bitstamp after dropping as low as $79,607 following Wednesday’s daily close.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The September print of the Personal Consumption Expenditures (PCE) index, acknowledged as Fed policymakers’ favorite indicator, showed an increase of 0.5% versus August and 3.6% year-on-year.