Bitcoin (BTC) hit $71,000 at the Wall Street open on Thursday after US inflation data met expectations. The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, showed a 3% year-on-year increase in February. However, this will be the first time the CPI release will show any impact on the US-Iran war. Despite this, a trader suggests that $80,000 remains in play as a BTC price target. The Kobeissi Letter noted that the impact of the war and oil-supply squeeze were not yet reflected in PCE inflation. Meanwhile, markets remained cautious about future Fed policy, with no expectations of interest-rate cuts in 2026.