Bitcoin price jumps to $81.5K as US GDP data beats expectations

BTC price action returned to a key weekly resistance level as US stock markets digested Alphabet’s Q3 earnings miss. Bitcoin (BTC) rebounded above $81,000 after Thursday’s Wall Street open as US GDP numbers stayed strong and inflation data conformed to estimates. Data from TradingView showed BTC/USD reaching $81,547 on Bitstamp after dropping as low as $79,607 following Wednesday’s daily close. The September print of the Personal Consumption Expenditures (PCE) index, acknowledged as Fed policymakers’ favorite indicator, showed an increase of 0.5% versus August and 3.6% year-on-year.