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

Bitcoin (BTC) rebounded above $81,000 after Thursday’s Wall Street open as US GDP numbers stayed strong and inflation data conformed to estimates.Key points:Bitcoin jumped to $81,547 on the back of strong US macro data, dismissing Alphabet’s Q3 earnings miss.US PCE data conformed to expectations at 3.6% year-on-year, while Q3 GDP came in higher at 3.4% versus 3.2% expected.BTC/USD needs to reclaim $81,400 by the weekly close, per analysis by Rekt Capital.Bitcoin brushes off Alphabet earnings missData from TradingView showed BTC/USD reaching $81,547 on Bitstamp after dropping as low as $79,607 following Wednesday’s daily close.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewThe 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. “Excluding food and energy, the PCE price index increased 3.1 percent from one year ago,” an official release from the Bureau of Economic Analysis (BEA) stated.US PCE index one-month % change. Source: BEAThe final estimate for Q3 GDP was 3.4%, above expectations of 3.2%. Speaking to CNBC, Chris Rupkey, chief economi...