Bitcoin's price has stabilized around $73,000 following the release of U.S. PCE inflation data, which aligned with market expectations. The core PCE index rose 3% year-over-year and 0.4% month-over-month, easing some market uncertainty. Despite the stable inflation data, investors remain cautious about potential Federal Reserve rate cuts this year.
Economist Mohamed El-Erian highlighted the importance of the upcoming CPI data, especially given recent oil price volatility. Meanwhile, trader Michaël van de Poppe maintains an $80,000 target for Bitcoin, contingent on the key support zone holding firm. The market continues to trade within a range, with liquidity concentrated between $69,000 and $76,000.
Bitcoin Holds Steady at $73,000 as Analysts Eye $80,000 Target
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