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Bitcoin stays near $78K after US macro data release
Bitcoin traded around $78,353 about 36 minutes after the Aug. 26 data, while the 10-year Treasury yield rose just 1 basis point to 4.65%.
Bitcoin held close to its pre-release range after a U.S. macro data package landed at 8:30 a.m. ET on Aug. 26, with no sharp selloff that some traders had feared. About 36 minutes after the release, Bitcoin traded near $78,353, versus roughly $78,500 to $79,000 in the pre-release window, according to CryptoSlate.
The article links the muted market reaction to the composition of the data. The U.S. Bureau of Economic Analysis reported headline PCE inflation rose 0.2% in July and 3.7% year over year, while core PCE increased 0.2% on the month and 3.3% annually, with headline and core slightly hotter than consensus in headline terms.
Growth and durable-goods demand were also mixed rather than strongly risk-off. BEA’s second estimate of second-quarter GDP kept growth at a 1.5% annualized rate, while private domestic demand was revised up to 4.2% from 3.9%, and durable-goods orders surprised to the upside, with July orders rising 1.1% versus about 0.5% expected.
In parallel, the spot Bitcoin ETF inflow streak remained a key support factor, the outlet said. Farside Investors data showed seven straight positive U.S. spot Bitcoin ETF sessions from Aug. 17 through Aug. 25 totaling $2.5697 billion in net inflows, with BlackRock’s IBIT representing about 90.5% of the Aug. 25 total net inflow. CryptoSlate noted finalized flow data for Aug. 26 were due later the same day, so it was too early to judge whether the streak would extend.
Latest closeBitcoin $78,412.16 ▼0.2%