Bitcoin Drops Below $71,000 as US Macroeconomic Data Disappoints

Bitcoin (BTC) slipped toward $71,000 during the Wall Street open on Oct. 31, as new U.S. macroeconomic data failed to stimulate an upward move in BTC’s price. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retracing, down about 1.6% on the day. The September release of the Personal Consumption Expenditures (PCE) index largely aligned with expectations, delivering no major surprises. Despite this, crypto markets showed little reaction. “Both core PCE and CPI inflation remain elevated and stubborn,” observed trading resource The Kobeissi Letter on X. “The ‘Fed pivot’ is being delayed again.” The reference here is to potential future