Bitcoin Holds Firm at $78,000 as Altcoin Rallies Continue

Bitcoin held steady at $78,000 on Friday after the release of the US Personal Consumption Expenditures (PCE) price index. The data showed a month-over-month increase of 0.3% for March, exceeding the 0.2% forecast.

The core PCE rose 2.8% year over year, slightly above consensus. This reinforces the likelihood that the Fed will maintain its current interest rate stance in the near term, supporting risk assets like cryptocurrencies.

SPX6900 and VeChain led altcoin rallies, with SPX6900 surging 12% due to renewed retail interest and speculative trading. VeChain climbed 8% after announcing a new partnership with a major logistics firm in Asia, enhancing supply chain transparency using its blockchain technology.