Bitcoin PCE hits $74,000 again after US inflation data

Bitcoin (BTC) is headed for a five-week high on Thursday on Wall Street as US inflation trends remain on track.

Main points:

• US inflation data keeps crypto and stocks higher as BTC price action tests $74,000 again.

• Bitcoin traders are divided on the future of this move, and the “retest” risks a new price crash.

• BTC/USD has finally crossed its 50-day moving average trend line again.

PCE Inflation Fuels Bitcoin Bulls

Data from TradingView confirmed a new rally in the local BTC price following the publication of the January Personal Consumption Expenditure (PCE) Index.

Known as the Fed’s “preferred” gauge of inflation, January’s PCE met market expectations at 0.3% for the month and 3.1% for the year, according to the Bureau of Economic Analysis.

While still at the highest level since late 2023, the result eased risk assets, with US stocks up around 0.5% at the time of writing.

In this case, both risk assets and crypto diverged from the positive correlation to oil seen during the week. WTI crude fell 2% on the day to around $95 per barrel.

BTC Price Prediction: $79,000 or “Retest?”

Commenting on Bitcoin, crypto trader Michael van de Poppe was cautiously optimistic about the outlook.

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“The resistance zone for me is between $76-79K for Bitcoin. I don’t expect a quick breakout, but I suspect we will see some additional momentum in the altcoin markets in this window,” he said in a post on X.

“Meanwhile; if Bitcoin gets there, it will cover a monthly candle and thus wipe out the entire February correction.”

Others remained on the sidelines, with trader Daan Crypto Trades warning that there would be a “big floor” if the current trading zone collapsed.

$BTC If this level is broken, it’s time for a big downtrend. pic.twitter.com/9A6DaICCs3

– Daan Crypto Trades (@DaanCrypto) March 13, 2026

Trader Roman, who was already bearish, described BTC/USD’s current move higher as a “retest”.

Referring to the relative strength index (RSI) and moving average convergence/divergence (MACD) indicators on the daily time frame, he concluded, “RSI divs, bearish price action (low + price) and full MACD reset.”

In a recent update on his Telegram channel, meanwhile, independent analyst Philbphilb focused on open interest (OI).

Market watchers, he said, should watch for the OI to become a “letter” — an event that will occur before the push ends.

“There is no indication right now,” he admitted, noting that the price is now interacting with the 50-day simple moving average (SMA).

As Cointelegraph reported, this was a major area of ​​overhead resistance of interest during previous breakout attempts.