US Economic Data Boosts Cryptocurrency Sentiment

The release of key U.S. economic data has boosted optimism within the cryptocurrency community. Recent figures like the GDP and PCE reports highlight a stronger-than-expected economy, potentially signaling more stable personal spending and a potential shift in inflation dynamics that could favor cryptocurrencies. 3.3% GDP growth, surpassing expectations for 3.1%, indicates the nation’s economy is stabilizing following a sluggish start, while the PCE report, with a preliminary reading of 2%, presents a favorable outlook for digital assets. This data has seen Bitcoin rebound to $113,000 and reinforce the support level around $112,500.