Bitcoin price holds near $84,000 as cooler PCE data fades

The Bitcoin price jumped on cooler inflation data, then gave back much of the move. Bitcoin rose about 1 per cent to $84,750 on 30 September after the August PCE report. By 1 October it was trading in the low $84,000s.

What the PCE report showed

Core PCE prices rose 0.2 per cent in August. Analysts expected 0.3 per cent. Over 12 months, core PCE rose 3 per cent against a forecast of 3.3 per cent. The headline index rose 0.3 per cent on the month and 3.4 per cent on the year, according to CoinDesk.

Bitcoin had traded near $83,700 before the release. It briefly touched $85,650 on the day.

Why the Bitcoin price stalled

Bond yields explain it. The 10-year Treasury yield fell about 4 basis points to 5.218 per cent after the data. That is still very high. Reports said it remained near multi-year highs. High yields make non-yielding assets less attractive.

Rate expectations did shift. CME FedWatch put the odds of an October 28 rate hike at 47.1 per cent, down from 70 per cent two days earlier. Other reports saw them lower still.

Levels and flows

Traders now watch $84,000 to $85,000 as a supply zone. Rallies have stalled there. Support sits in the low $83,000s. Ether slipped 0.7 per cent to about $2,690.

Flows were mixed. Spot Bitcoin ETFs took in $2.4 billion in the week to 25 September, the strongest weekly inflow of 2026, according to Crypto Times. Daily flows turned modestly negative on 30 September. Strategy also bought 1,665 BTC at an average of about $85,681. Our earlier note on nine days of ETF inflows covers the run-up.

What is next

The September jobs report on 2 October is the next catalyst. A hot number could revive rate-hike fears. A weak one could pull yields lower. Bitcoin is also closing its best quarter since 2024, per CoinDesk.

Fact basis: CoinDesk live updates (30 September 2026) and Crypto Times (1 October 2026). Sources differ slightly on rate-hike odds. This is not investment advice. Crypto assets are volatile; do your own research and never invest more than you can afford to lose.