Bitcoin Rebounds Above $80K Despite Strong GDP and Inflation Data

The U.S. Bureau of Economic Analysis reported that third-quarter growth outperformed the 3.2% forecast, bolstered by robust consumer spending and significant business investment in artificial intelligence infrastructure. However, this economic acceleration coincides with persistent price pressures. The Personal Consumption Expenditures (PCE) price index rose 0.5% in September, pushing annual core inflation to 3.1%. These figures remain stubbornly above the Federal Reserve’s 2% target, complicating the outlook for monetary policy.

Following the Fed's decision to hold interest rates at 3.75% to 4.00%—a move supported by a 10-2 vote—market participants are weighing the possibility of a year-end rate hike. Chair Kevin Warsh noted the strength of current economic activity even as he acknowledged the inflationary environment. For Bitcoin, the prospect of elevated interest rates creates a challenging landscape, as higher yields on government bonds typically diminish the appeal of non-yielding assets. Despite this macro pressure, on-chain data offers a counter-narrative; Santiment reported a net withdrawal of 14,942 BTC from centralized exchanges, the largest daily outflow in five weeks, suggesting long-term holders are moving assets into cold storage even amid price volatility.

Technically, Bitcoin faces immediate resistance at $81,400, with a secondary hurdle between $82,000 and $82,500. Should the price fail to hold the $80,000 support, analysts point to $78,000 and $76,000 as critical levels to watch. Ongoing demand from U.S. spot Bitcoin ETFs, which recently recorded $423.66 million in inflows over three sessions, continues to provide a layer of institutional support against broader market uncertainty.