Bitcoin Faces $80,000 Test as Markets Await PCE Data
<p class="text-left mb-4 ">Bitcoin is struggling to break above $80,000 as investors turn their attention to the upcoming US core PCE data. BTC traded around $78,700 at the time of writing following its rapid rally.</p><p class="text-left mb-4 ">Bitcoin traded between $77,972 and $79,916 during the day. The cryptocurrency has gained approximately 22% since falling to $64,300 on August 19.</p><p class="text-left mb-4 ">Profit-taking emerged around $80,000 following the rally. Investors are now watching how inflation data and the Jackson Hole comments will affect the market.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Bitcoin rally slows ahead of PCE data</h2><p class="text-left mb-4 ">The US Treasury’s decision to expand its bond buyback program helped trigger Bitcoin’s rally. The department raised the maximum buyback size for 10- to 30-year securities from $2 billion to at least $4 billion per operation.</p><p class="text-left mb-4 ">According to the <a href="https://home.treasury.gov/news/press-releases/sb0607" target="_blank" rel="noopener noreferrer" class="text-primary underline">US Treasury’s announcement</a>, the larger buybacks will begin on September 9. The decision pushed long-term Treasury yields lower and increased pressure on the dollar.</p><p class="text-left mb-4 ">Lower yields and a weaker dollar supported demand for Bitcoin. BTC consequently climbed from around $64,000 to the $80,000 threshold within a short period.</p><p class="text-left mb-4 ">However, the rally has lost momentum over the past two days. Bitcoin tested $80,000 but failed to establish a sustained move above that level.</p><p class="text-left mb-4 ">Easing tensions in the Middle East and falling oil prices have also changed the market outlook. These developments reduced inflation risks while limiting urgent demand for alternative hedges.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">How could core PCE affect Bitcoin?</h2><p class="text-left mb-4 ">The US Bureau of Economic Analysis will release July’s PCE data on August 26 at 8:30 a.m. ET. Core PCE, which the Fed closely monitors, excludes volatile food and energy prices.</p><p class="text-left mb-4 ">Core PCE increased by 0.1% month over month in June. Annual core inflation reached 3.3%. Markets expect the monthly increase to accelerate to 0.2% in July.</p><p class="text-left mb-4 ">A lower-than-expected reading could increase downward pressure on Treasury yields and the dollar. Such an outcome could support another Bitcoin test of $80,000.</p><p class="text-left mb-4 ">Hotter core inflation could strengthen concerns that the Fed will maintain tight monetary policy for longer. This scenario could accelerate profit-taking in Bitcoin following its recent rally.</p><p class="text-left mb-4 ">Markets will also follow Fed Chair Kevin Warsh’s Jackson Hole speech on Friday. Warsh’s comments on inflation and interest rates will provide another major catalyst this week.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Bitcoin ETFs attract $314 million</h2><p class="text-left mb-4 ">Institutional demand for US spot ETFs continues to support Bitcoin’s strong performance. According to Farside Investors, the funds recorded $314.3 million in net inflows on August 25.</p><p class="text-left mb-4 ">Spot Bitcoin ETFs consequently completed their seventh consecutive session of positive flows. Inflows exceeded $300 million during each of the past five trading sessions.</p><p class="text-left mb-4 ">The funds attracted a combined $2.08 billion during those five sessions. Net inflows over the seven-day streak reached approximately $2.57 billion.</p><p class="text-left mb-4 ">BlackRock’s IBIT collected $284.4 million during the latest trading session. Fidelity’s FBTC attracted $15.4 million, while Grayscale’s BTC received $7 million.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Which Bitcoin price levels matter?</h2><p class="text-left mb-4 ">The first major resistance zone for <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noopener noreferrer" class="text-primary underline">Bitcoin</a> sits between $79,750 and $80,000. A sustained move above this area could bring the $81,000–$83,000 range into focus.</p><p class="text-left mb-4 ">
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</p><p class="text-left mb-4 ">A lasting breakout above $83,000 could strengthen medium-term expectations for $95,000–$100,000. However, this scenario requires strong spot trading volumes and continued ETF inflows.</p><p class="text-left mb-4 ">The first support zone sits between $77,500 and $76,000. Losing this area could trigger a deeper correction toward $74,000.</p><p class="text-left mb-4 ">Slower ETF inflows or hotter PCE data could increase short-term selling pressure. Another failed breakout above $80,000 would also raise the correction risk.</p><p class="text-left mb-4 ">Meta Title: Bitcoin Awaits PCE Data as $80,000 Test Looms</p><p class="text-left mb-4 ">Meta Description: Bitcoin struggles with $80,000 resistance as markets await PCE data and the Jackson Hole speech. Spot ETFs attracted $314 million.</p><p class="text-left mb-4 ">Keywords: Bitcoin, Bitcoin price, PCE data, core PCE, Bitcoin ETF, BTC, Jackson Hole</p>
