Bitcoin surges to $81.5K after strong US GDP data

Bitcoin climbed to $81.5K, a level that marks a key weekly resistance point for the digital asset. The rally came as U.S. economic data surpassed expectations, suggesting continued strength in the economy.

U.S. GDP growth outpaced forecasts, providing a boost to investor sentiment across asset classes. The positive macro data helped lift risk appetite, which can lift demand for assets such as Bitcoin that are often viewed as alternative investments.

At the same time, U.S. equity markets were digesting Alphabet’s miss on Q3 earnings. The tech giant’s weaker performance weighed on the broader technology sector, potentially diverting some capital toward non‑equity assets.

Macro data and earnings influence crypto

When macroeconomic indicators improve, risk‑seeking investors may shift funds into assets that offer higher returns, including cryptocurrencies. Bitcoin’s reaction to the GDP data demonstrates how macro news can move the market, while earnings reports from major tech firms can affect the broader equity environment and indirectly influence crypto demand.

Based on reporting from Cointelegraph. Read the original.