Bitcoin price reclaims $80K as US GDP beats forecasts

Bitcoin price has reclaimed the $80,000 level after briefly falling below it earlier on Thursday, as fresh US economic data showed stronger than expected growth in the third quarter and persistent inflation in September. Summary Bitcoin price has reclaimed the $80,000 level after briefly falling below it earlier on Thursday, as traders assessed the latest US economic data. The US economy grew at an annualized rate of 3.4% in the third quarter, beating the 3.2% forecast, while annual core PCE inflation reached 3.1% in September. Stronger economic growth and persistent inflation could encourage the Federal Reserve to keep interest rates elevated, potentially putting pressure on Bitcoin’s recovery. Bitcoin faces immediate resistance near $81,400, followed by the $82,000 to $82,500 range, while $80,000 remains an important level for traders to watch. According to the US Bureau of Economic Analysis, the country’s economy grew at an annualized rate of 3.4% between July and September, exceeding economists’ expectations of 3.2% and improving from the previous quarter’s 2.2% growth. The latest figures arrived a day after the Federal Reserve decided to leave interest rates unchanged, raising...