Bitcoin Pulls Back From Record High Amid Anticipation of Crucial Economic Data

The Bitcoin price rally has cooled down after reaching an all-time high of $78,543.79 in the last 24 hours.

This surge represented a 9.7% increase in value, with a market cap of $1.543 trillion and daily trading volume of $63.312 billion.

The pullback to around $76,000 is attributed to markets' reaction to the Treasury's larger purchases of long-term bonds and anticipation of US PCE inflation, GDP, and jobs data that will influence the rally's continuation.