BTC Maintains Stability Around $71K Post-PCE Data as Analyst Projects $80K Target
BTC price action remains relatively stable following the release of crucial US PCE inflation figures, with one market analyst predicting an upcoming bullish move toward $80,000.
As Wall Street trading commenced on Thursday, Bitcoin (BTC) hovered around the $71,000 level following the release of US inflation metrics that aligned with market forecasts.
Key points:
- BTC remains in holding pattern as US PCE inflation figures meet forecasts.
- The CPI data scheduled for Friday will be the initial reading to capture any effects from the US-Iran conflict.
- One market analyst maintains that $80,000 continues to be a viable BTC price objective.
PCE figures deliver no shocks to risk markets
According to TradingView data, BTC price volatility diminished following the previous day's local peaks approaching $73,000.
Market optimism surrounding the US-Iran ceasefire announcement merged with positive figures from the Personal Consumption Expenditures (PCE) index, which serves as the Federal Reserve's favored inflation measurement tool.
The year-over-year core PCE registered at 3% for the month of February. Monthly core PCE stood at 0.4%, according to figures released by the US Bureau of Economic Analysis (BEA).
In response to the data, market analysis resource The Kobeissi Letter observed that the PCE figures had not yet incorporated the consequences of the US-Iran conflict and the resulting constraints on oil supply.
"This marks the final pre-Iran War PCE inflation datapoint," it wrote on X.
Market participants maintained a cautious stance regarding upcoming Federal Reserve monetary policy decisions, with CME Group's FedWatch Tool data continuing to indicate zero probability of interest-rate reductions throughout 2026.
Although Bitcoin demonstrated no clear response to the newly published data, economist Mohamed El-Erian suggested that Friday's Consumer Price Index (CPI) report for March carries greater significance.
"While PCE inflation is widely regarded as the Fed's favorite measure, the bigger inflation focus this week will be on tomorrow's CPI data, as PCE covers February and not March," he told X followers.
Previous Cointelegraph coverage highlighted that CPI measurements are especially vulnerable to disruptions caused by fluctuations in oil pricing.
Market analyst maintains $80,000 BTC price objective "on the horizon"
The current BTC price movement left market participants uncertain about the timing and direction of the next significant shift.
In their most recent analysis of market conditions, pseudonymous trading expert LP utilized liquidation cluster patterns to identify prospective price objectives.
"On the HTF, some upside low-leverage liquidation clusters have been cleared, but sizeable liquidity still remains around 73K and above the highs near 76K. Meanwhile, liquidity is starting to build on the downside, mainly around 69K and 64K," an X post stated.
"With price still range-bound, both sides remain in play. If the 69–68K level holds, price is likely to push higher and target the remaining upside liquidity around 73K."
Digital asset trader Michaël Van de Poppe expressed a more bullish outlook, continuing to view the $80,000 level as achievable.
"As long as Bitcoin continues to hold these ranges, there's a strong new upwards leg on the horizon towards $80K," he summarized on the day.
