Bitcoin rises above $81,000 after strong U.S. GDP data

Bitcoin rose to $81,547 on Thursday after falling to $79,607 following Wednesday’s daily close. The cryptocurrency moved higher despite a decline in Alphabet shares after the company reported weaker-than-expected quarterly earnings and revenue.

The Bureau of Economic Analysis reported that the Personal Consumption Expenditures price index rose 0.5% in September and increased 3.6% from a year earlier. Core PCE inflation, which excludes food and energy prices, rose 3.1% year over year. Both figures matched market expectations. Inflation remains above the Federal Reserve’s 2% target.

The U.S. economy grew at an annual rate of 3.4% in the third quarter, according to the final GDP estimate. The figure exceeded the 3.2% forecast and marked the first time in a year that real GDP growth topped 3%, according to Chris Rupkey, chief economist at Fwdbonds.

Rupkey described the economy as continuing to grow despite geopolitical risks and higher energy costs. “The economy was thought to have been a lost cause during much of the current Administration’s time in office, but real GDP has bounced back above a 3% run rate in Q3 2026 for the first time in a year,” he said.

U.S. stocks opened lower Thursday, led by Alphabet, whose shares fell 12% after the technology company reported weaker-than-expected earnings and third-quarter revenue. Bitcoin rose while technology stocks declined.

The Federal Reserve left its benchmark interest-rate target unchanged at 3.75% to 4% at its Federal Open Market Committee meeting Wednesday. Fed Chair Kevin Warsh described economic activity as “expanding at a strong pace” and inflation as “elevated.”

“While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient,” Warsh said. “Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little.”

Bitcoin faced resistance near $81,400, according to crypto analyst Rekt Capital. The analyst described BTC/USD as moving irregularly around weekly levels near $80,400 and $81,400. Bitcoin would need to close the week above $81,400 to strengthen its position, the analyst wrote on X.

Bitcoin was on track to finish October down 3.3%. Since 2010, October has produced an average Bitcoin return of 26%, based on historical market data.