Bitcoin (BTC) bounced off the psychological support level of $60,000 to trade above $60,500. The Core PCE Price Index, the Federal Reserve’s preferred inflation gauge, came in at 0.1%, slightly below expectations of 0.2%.

Revised UoM Consumer Sentiment also fell short of forecasts, coming in at 65.6 compared to the expected 65.9.

As Bitcoin (BTC) hovers above the $60,500 mark following a rebound from its recent dip, the cryptocurrency market is keenly watching the interplay between recent U.S. economic data and Bitcoin price predictions.