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Bitcoin (BTC<\/a>) sought a local bottom on March 28 while US inflation data came in higher than expected.<\/p>\n BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD heading to $85,500 at the Wall Street open before reversing.<\/p>\n Down over 3% on the day, the pair saw lows under $84,500 on Bitstamp, marking its lowest levels since March 23.<\/p>\n The February print of the US Personal Consumption Expenditures (PCE<\/a>) Index subsequently showed inflation quickening \u2014 in contrast to the result<\/a> from a month prior.<\/p>\n While the month-on-month and year-on-year PCE tally conformed to market forecasts at 0.3% and 2.5%, respectively, their core PCE equivalents were both 0.1% higher than anticipated.<\/p>\n \u201cCore inflation is back on the rise,\u201d trading resource The Kobeissi Letter concluded in part of a response<\/a> on X, noting that the January numbers had also been revised higher.<\/p>\n Kobeissi argued that the current macroeconomic trajectory forms \u201cthe perfect recipe for stagflation in 2025.\u201d\u00a0<\/p>\n \u201cMarch inflation data will be even more telling as the trade war rages on,\u201d it wrote.<\/p>\n US PCE % change (screenshot). Source: Bureau of Economic Analysis<\/em><\/p>\n<\/figcaption><\/figure>\n While BTC price action appeared to shake off the inflation warning, market participants were ready for surprises.<\/p>\n Related: <\/strong><\/em>‘Bitcoin Macro Index’ bear signal puts $110K BTC price return in doubt<\/strong><\/em><\/a><\/p>\n \u201cPCE data coming up so it’s going to be a volatile day in the markets I reckon,\u201d popular trader Daan Crypto Trades thus wrote in part of his own X reaction<\/a>.<\/p>\n Others maintained doubts over broader crypto market strength, agreeing that Bitcoin was not yet out of the woods despite holding above $80,000 for several weeks.<\/p>\n \u201cTrend remains to be upwards for $BTC, but it starts to look slightly less good,\u201d trader, analyst and entrepreneur Micha\u00ebl van de Poppe told<\/a> X followers on the day.\u00a0<\/p>\n \u201cIt’s shaking. Drop sub $84K and I think we’ll see a test at $78-80K and perhaps lower before we’ll bounce back up.\u201d<\/p><\/blockquote>\n BTC\/USDT 12-hour chart with relative strength index (RSI) data. Source: Micha\u00ebl van de Poppe\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Fellow trader TheKingfisher likewise saw little chance of a full bullish comeback on short timeframes.<\/p>\nBitcoin wobbles as PCE comes in hot<\/h2>\n
BTC price analysis sees \u201ctypical market cooldown\u201d<\/h2>\n