Bitcoin Stabilizes Near $71,000 as PCE Data Aligns With Forecasts

Bitcoin (BTC) held steady around the $71,000 mark during Thursday's Wall Street session, exhibiting limited volatility after the latest US inflation data aligned with market expectations. The lack of a surprise in the data has left the digital asset searching for a new catalyst to drive a definitive trend. The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, reported a year-on-year core increase of 3% for February, with a monthly rise of 0.4%. While these figures provided a baseline of stability, analysts note that the data does not yet reflect the economic pressures stemming from the US-Iran conflict and associated oil-supply constraints. Market attention is now shifting toward the March Consumer Price Index (CPI) release. Economists suggest the CPI will be a more critical indicator than the February PCE, as it is expected to capture the immediate fallout from geopolitical tensions and oil-price swings. This anticipation has kept traders cautious regarding the Federal Reserve's next moves, with CME FedWatch Tool data indicating no expected rate cuts in 2026. From a technical standpoint, Bitcoin is navigating a complex liquidity environment. While some upside liquidation clusters have been cleared, significant liquidity remains near $73,000 and $76,000. Conversely, support is building on the downside around the $69,000 and $64,000 levels. Despite the current consolidation, some market participants maintain a bullish outlook, suggesting a potential move toward $80,000 if the asset continues to hold its current range.