A solid recovery in Bitcoin price is a hint that bulls have not given up on BTC and altcoins as they continue to buy dips below key support levels.
Bitcoin (BTC) extended its pullback for the third consecutive day, but lower levels attracted solid buying by the bulls. The cooler-than-expected United States inflation data likely fuelled the bounce. The Federal Reserve’s preferred inflation metric, the Personal Consumption Expenditures (PCE) index, came in at 2.4% versus economists’ expectations of 2.5%.
That helped improve sentiment, which turned bearish after the Fed chair Jerome Powell forecasted the likelihood of two rate cuts in 2025, down from the four that were projected in September.
Crypto market data daily view. Source: Coin360
