Bitcoin Holds Firm Amid Surprise Inflation Data

The US Personal Consumption Expenditures (PCE) price index released on Friday came in above market expectations, showing a month-over-month increase of 0.3% for March.

This is significant because it's the Federal Reserve's preferred inflation gauge, and the data reinforces the likelihood that the Fed will maintain its current interest rate stance in the near term.

BTC has been range-bound between $75,000 and $80,000 over the past two weeks, with trading volumes moderating from peaks seen earlier this month. Its resilience at the $78,000 level suggests traders see the inflation surprise as a temporary blip rather than a reversal of the disinflationary trend.

Altcoins SPX6900 and VeChain (VET) posted notable gains, with SPX6900 surging 12% on the day due to renewed retail interest, while VET climbed 8% after announcing a new partnership with a major logistics firm in Asia.