Bitcoin (BTC) Price Stabilizes Below $95,500 Resistance Ahead of PCE Inflation and Jobs Data

Bitcoin (BTC) is showing signs of stabilizing below the $95,500 resistance zone, as traders brace for a heavy macroeconomic calendar this week.

Bitcoin (BTC) appears to be stabilizing above the $93,000 support zone as traders prepare for a busy macroeconomic calendar this week, which could influence short-term Bitcoin price movements and investor sentiment.

After rallying 10.3% over the past week, Bitcoin price hovers near $95,274. The cryptocurrency rose from the $86,000 zone to hit an intraweek high of $95,700 on April 25, remaining in a tight range.

Bitcoin price analysis: BTC stalls ahead of PCE and jobs data

As of April 29, Bitcoin is trading at $95,274. The cryptocurrency has remained range-bound since April 25, following a 10.3% rally from the $86,000 zone.

The cryptocurrency is supported by strong institutional inflows, including Strategy’s announcement of a $1.42 billion Bitcoin acquisition and net spot ETF inflows exceeding $3 billion last week.

However, with a lack of major crypto news this week, the focus shifts to macroeconomic catalysts. A flurry of U.S. economic reports, including Core PCE inflation data, ISM manufacturing figures, and April’s nonfarm payrolls report, could influence risk sentiment.

What to watch: JOLTS, Core PCE and ISM Manufacturing PMI

April 29 – JOLTS Report: Job openings data may reveal how the U.S. labor market is coping with the impact of ongoing tariff tensions with China. A sharp decline in openings could dampen market confidence and trigger short-term risk-off moves.

April 30 – Core PCE Inflation: The Federal Reserve’s preferred inflation gauge will provide traders with a crucial insight into consumer spending trends. A surprise increase could raise expectations for tighter policy, while a decrease may support risk assets like Bitcoin.

May 1 – ISM Manufacturing PMI: A reading in the contractionary territory would indicate growing concern among businesses, particularly amid tariff-related uncertainty. Bitcoin could react negatively if macro fears resurface.

May 2 – Nonfarm Payrolls: The April jobs report may reflect the broader economic pause caused by inflation and protectionist trade measures. Weak job numbers could fuel volatility across risk assets.

Bitcoin price outlook: More sideways action likely

Bitcoin’s current tight range suggests indecision among investors as they await further clarity from upcoming economic reports.

Historical price behavior during weeks with a heavy macro focus shows that traders often reduce their exposure, preferring to assess risk after the data is released.

Considering April’s high volatility and the lack of a fresh bullish catalyst beyond institutional accumulation, Bitcoin may face difficulties in breaking decisively above the $95,500 resistance level in the near term.

Analysts suggest that to maintain the bullish bias, Bitcoin needs to:

Maintain support above the $93,000 level to avoid a deeper pullback.

Break and close above the $95,700 resistance to set the stage for a continuation towards the $98,500–$100,000 zone in the short term.

Overall, with key macro data and a quiet week for crypto news, Bitcoin price is likely to consolidate in the $93K–$95.5K range.

However, traders should remain vigilant for macro-driven volatility and closely monitor BTC support and resistance levels, especially if U.S. economic signals suggest a potential recession or further adjustments in Fed policy.