Bitcoin (BTC) rebounded above $81,000 on Thursday, October 29, as stronger-than-expected U.S. GDP data and inflation figures matching market forecasts helped support cryptocurrency prices.
The Bitcoin price climbed to $81,547 following the opening of Wall Street trading, recovering from an earlier decline toward $79,600. The rebound came despite weakness in U.S. technology stocks after Alphabet reported disappointing third-quarter earnings.
Meanwhile, cryptocurrency traders continued monitoring a crucial resistance level near $81,400, which analysts identified as an important threshold for Bitcoin’s weekly price outlook.
Bitcoin Price Rebounds Above $81,000
Bitcoin regained upward momentum after falling to approximately $79,607 following Wednesday’s daily close.
According to TradingView data, BTC/USD subsequently reached $81,547 on Bitstamp, reflecting renewed buying activity following the release of important U.S. economic indicators.
The recovery brought Bitcoin back toward a key technical resistance zone that could determine its near-term direction.
However, the cryptocurrency continued facing selling pressure at higher prices, suggesting that buyers had not yet established a decisive breakout.
Despite the rebound, investors remained cautious as financial markets assessed the implications of strong economic growth, persistent inflation, and the Federal Reserve’s monetary policy outlook.
U.S. GDP Growth Beats Expectations at 3.4%
Stronger-than-expected U.S. economic growth provided an important backdrop for Bitcoin’s price recovery.
The Bureau of Economic Analysis (BEA) reported that the American economy expanded at an annualized rate of 3.4% during the third quarter of 2026.
The advance estimate exceeded economists’ expectations of 3.2% growth and marked an acceleration from the previous quarter’s 2.2% expansion.
The figures highlighted the resilience of the U.S. economy despite geopolitical uncertainty and elevated energy costs.
Chris Rupkey, chief economist at Fwdbonds, pointed to the economy’s ability to maintain strong growth despite challenges affecting several industries.
The encouraging GDP report offered evidence that economic activity remained robust, although stronger growth could also influence expectations for future Federal Reserve interest rate decisions.
U.S. PCE Inflation Matches Market Forecasts
Alongside the GDP report, investors received the latest Personal Consumption Expenditures (PCE) inflation figures for September.
The headline PCE Price Index increased 0.5% month over month and 3.6% year over year, matching economists’ expectations.
Meanwhile, Core PCE inflation, which excludes volatile food and energy prices, reached 3.1% annually.
The figures confirmed that underlying inflation remained above the Federal Reserve’s long-term 2% target.
Although the data contained no major surprises, persistent price pressures continued to complicate the monetary policy outlook.
For Bitcoin and other risk-sensitive assets, inflation trends remain particularly important because they can influence borrowing costs, liquidity conditions, and investor sentiment.
Bitcoin Holds Firm Despite Alphabet Earnings Selloff
While Bitcoin recovered, U.S. equity markets faced renewed selling pressure, particularly across the technology sector.
Alphabet shares dropped approximately 12% following disappointing third-quarter earnings and revenue figures.
The decline weighed on broader market sentiment as investors reconsidered the outlook for major technology companies.
Nevertheless, Bitcoin managed to recover above $81,000 despite the weakness in technology stocks.
This divergence suggested that cryptocurrency buyers were responding to the latest economic developments rather than simply following the immediate direction of the equity market.
However, the recovery did not eliminate the possibility of further volatility, particularly if selling pressure across risk assets intensified.
Federal Reserve Holds Interest Rates at 3.75%–4.00%
The latest Bitcoin price movements also followed the Federal Reserve’s decision to leave interest rates unchanged at its October meeting.
The Federal Open Market Committee (FOMC) maintained the benchmark federal funds rate within the 3.75%–4.00% range, in line with market expectations.
Federal Reserve Chair Kevin Warsh acknowledged the strength of U.S. economic activity while emphasizing that inflation remained elevated.
He also highlighted resilient consumer spending, solid productivity growth, and continued capital investment.
Meanwhile, employment conditions showed relative stability despite ongoing geopolitical and economic uncertainty.
The central bank’s decision reinforced the importance of upcoming economic data in determining whether additional monetary tightening would be necessary.
Consequently, Bitcoin traders will likely remain sensitive to changes in Federal Reserve interest rate expectations.
Bitcoin Faces Critical Resistance at $81,400
From a technical perspective, Bitcoin’s recovery brought the cryptocurrency back toward an important weekly resistance area.
Crypto analyst Rekt Capital identified approximately $81,400 as a significant level that buyers would need to reclaim.
According to his analysis, Bitcoin had been fluctuating between two important weekly price levels near $80,400 and $81,400.
The repeated movements around these thresholds suggested that the market had not yet established a clear directional trend.
Rekt Capital indicated that a weekly close above $81,400 would be important for confirming a stronger technical position.
However, failure to reclaim that level could leave Bitcoin vulnerable to renewed selling pressure.
Therefore, traders will closely monitor the upcoming weekly candle close for further confirmation of the cryptocurrency’s short-term direction.
Bitcoin October Performance Challenges Historical Trends
Despite the latest recovery, Bitcoin remained on course to finish October with a monthly decline of approximately 3.3%, based on prices at the time of the report.
Such an outcome would contrast with the cryptocurrency’s historically strong performance during October.
According to historical figures cited in the original market analysis, Bitcoin has generated average October returns of approximately 26% since 2010.
However, past seasonal performance does not guarantee similar results in future years.
The latest price movements highlight how macroeconomic developments, monetary policy uncertainty, and technical resistance can influence cryptocurrency markets despite favorable historical patterns.
Bitcoin Price Outlook: Can BTC Break Above $81,400?
Overall, Bitcoin’s recovery toward $81,500 reflected renewed buying interest following stronger-than-expected U.S. GDP growth and inflation data that matched forecasts.
However, the cryptocurrency continued encountering resistance near $81,400, leaving the sustainability of the rebound uncertain.
A sustained move above this technical level could improve Bitcoin’s near-term outlook, while renewed rejection may increase the risk of another pullback toward lower support levels.
Looking ahead, investors will monitor Federal Reserve commentary, inflation developments, U.S. equity market performance, and Bitcoin’s weekly closing price.
For now, the $81,400 resistance area remains a central technical reference as traders assess whether Bitcoin can extend its latest recovery.
