BREAKING: The Fed’s PCE Data Used to Measure Inflation Has Been Released! What Was Bitcoin’s (BTC) Initial Reaction?
Selling pressure stemming from geopolitical risks continues to affect global markets. While escalating tensions between the US and Iran continue to negatively impact markets, US President Donald Trump stated that the direction this process will take will be seen within 10 days.
The leading cryptocurrency Bitcoin (BTC) and altcoins continue to exhibit volatile movements.
Experts say the upcoming US personal consumption expenditures (PCE) inflation data could be crucial for the markets. They suggest that inflation figures higher than expected could support the dollar and put pressure on risky assets, while weaker figures could create a positive outlook for cryptocurrencies.
While investors expect the Fed to cut interest rates twice this year, data on Personal Consumption Expenditures (PCE), which the Fed closely monitors when making its interest rate decisions and is considered a leading indicator of inflation, has been released.
Accordingly, the personal consumption expenditure data for December were as follows:
Core Personal Consumption Expenditures Price Index (Annual) Announced 3.0% – Expectation 2.9% – Previous 2.8%
Core Personal Consumption Expenditures Price Index (Monthly) Announced 0.4% – Expectation 0.3% – Previous 0.2%
Personal Consumption Expenditures Price Index (Annual) Announced 2.9% – Expected 2.8% – Previous 2.8%
Personal Consumption Expenditures Price Index (Monthly) Announced 0.4% – Expectation 0.3% – Previous 0.2%
According to The Kobeissi Letter, PCE inflation is on the rise again, with core PCE inflation currently at its highest level since November 2023.
What was Bitcoin’s (BTC) Initial Reaction?
*This is not investment advice.
Continue Reading: BREAKING: The Fed’s PCE Data Used to Measure Inflation Has Been Released! What Was Bitcoin’s (BTC) Initial Reaction?
You May Also Like
Tests 50-day EMA barrier near 183.00
Shapeshift Founder’s Strategic $20.38 Million Bet Signals Renewed Confidence
