Bitcoin (BTC<\/a>) recrossed $82,000 into the Feb. 28 Wall Street open as analysis pointed to a March BTC price comeback.<\/p>\n BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD bouncing more than 5% from its latest multimonth lows of $78,197 on Bitstamp.<\/p>\n Ongoing selling pressure only eased as the latest US macroeconomic data conformed to expectations on inflation.<\/p>\n The January print of the Personal Consumption Expenditures (PCE) index, known to be the Federal Reserve\u2019s \u201cpreferred\u201d inflation gauge, came in at 0.3% and 2.5% month-on-month and year-on-year, respectively.<\/p>\n Markets immediately sensed relief after several recent overshoots in inflation data. In a boost to both risk assets and crypto, US dollar strength began falling from local highs of 107.45, a level not seen in two weeks.<\/p>\n US dollar index (DXY) 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n \u201cThis marks the first decline in PCE inflation since September 2024,\u201d trading resource The Kobeissi Letter wrote in part of a reaction on X<\/a>.<\/p>\n Kobeissi described both the PCE and core PCE results as \u201cconstructive.\u201d<\/p>\n \u201cHowever, since the data was released, interest rate cut expectations are little changed,\u201d it noted.\u00a0<\/p>\n \u201cVolatility is ramping up.\u201d<\/p><\/blockquote>\n Fed target rate probabilities. Source: CME Group<\/em><\/p>\n<\/figcaption><\/figure>\n The latest data from CME Group\u2019s FedWatch Tool<\/a> put the odds of a rate cut at the Fed\u2019s March meeting at just 5.5% at the time of writing.<\/p>\n Commenting on the impact that the macro climate could have on Bitcoin, meanwhile, Julien Bittel, head of macro research at Global Macro Investor, had good news for bulls.<\/p>\n Related: <\/strong><\/em>When will Bitcoin price bottom?<\/strong><\/em><\/a><\/p>\nBTC price pushes past $82,000 on PCE relief<\/h2>\n
Macro tightening \u201cfully reflected\u201d in $80,000 Bitcoin<\/h2>\n