Bitcoin price bounces 5% as analyst sees crypto slump end in March – BitRss

Bitcoin (BTC ($86,249.42)) recrossed $82,000 into the Feb. 28 Wall Street open as analysis pointed to a March BTC price comeback.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

BTC price pushes past $82,000 on PCE relief

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing more than 5% from its latest multimonth lows of $78,197 on Bitstamp.

Ongoing selling pressure only eased as the latest US macroeconomic data conformed to expectations on inflation.

The January print of the Personal Consumption Expenditures (PCE) index, known to be the Federal Reserve’s “preferred” inflation gauge, came in at 0.3% and 2.5% month-on-month and year-on-year, respectively.

Markets immediately sensed relief after several recent overshoots in inflation data. In a boost to both risk assets and crypto, US dollar stren…