Bitcoin Pops Above $80K as PCE Keeps Inflation Heat—and Volatility—Simmering

Bitcoin climbed back above the psychological $80,000 level after the U.S. Personal Consumption Expenditures (PCE) inflation report for September matched expectations, with the asset briefly reaching $81,000.

According to the latest U.S. Bureau of Economic Analysis release, the PCE index rose 3.6% year-over-year (YoY) and 0.5% month-over-month (MoM). The annual reading was higher than the 3.4% increase recorded in August, while the September result came in line with expectations.

The report followed the Federal Reserve’s decision at its October FOMC meeting to hold interest rates steady. The Fed acknowledged that inflation remains elevated, a factor that has continued to shape sentiment across Bitcoin and the broader crypto market. Bitcoin briefly surged following the Fed rate decision before trading just above $80,000 and slightly lower on the day, according to TradingView data.

Volatility remained pronounced as inflation concerns persisted amid uncertainty surrounding the U.S.-Iran war. Bitcoin and the broader crypto market continued to trade in a tight range, with the latest PCE reading adding to a market closely watching the impact of inflation and U.S. monetary policy.