Bitcoin Gains as Yields Dip Following Better than Hoped Inflation Numbers
Bitcoin and ether fell as traders awaited the Federal Reserve’s favored inflation gauge and the monthly U.S. jobs report.
- Bitcoin slipped 0.3% to about $83,700 early Wednesday, U.S. time, as traders navigated shifting market sentiment ahead of key economic data.
- Traders are awaiting the Federal Reserve's favored inflation gauge, the PCE price index, after Treasury yields hit their highest levels since 2002 amid oil-driven rate-hike bets.
- Onchain analysis firm CryptoQuant estimates Bitcoin spot demand shrunk by about 170,000 BTC over the past 30 days, while Ether fell 0.7% to about $2,690 and Brent rose above $103.
- Simon-Peter Massabni, head of business development at XS.com, said a higher-than-expected reading "could trigger another wave of short-term selling pressure," while HYPE dropped nearly 2% and XRP and TRX each added under 1% per CoinDesk data.
- After PCE, attention turns to the monthly jobs report, where weaker numbers could ease rate-hike bets; Technology reports after the close, with Micron results serving as a test for AI-linked stocks.
20 Articles
20 Articles
Bitcoin Holds Firm After Soft PCE Tempers October Fed Rate Hike Bets
TL;DR Inflation Data: August PCE figures came in softer than expected, reducing market expectations for an October Federal Reserve rate hike and improving sentiment toward risk assets. Market Reaction: Bitcoin remained stable near $84,300, with analysts noting low volatility and largely neutral investor positioning ahead of the inflation release. Ongoing Headwinds: Rising Treasury yields continue ...
Bitcoin’s Price Jumps Above $85,000 On Inflation Data
Bitcoin’s price rose — albeit slightly — on data Wednesday showing that inflation had risen slower than expected. The Fed’s main inflation gauge, the personal consumption expenditures price index, increased in August by 3.4% on headline and 3% for core — both well below estimates. Bitcoin’s price recently stood at $84,246 after jumping as high as $85,518 at one point Wednesday morning in New York. The news means the Federal Reserve is less lik…
Market Analysis 9.30: Bond Sell-Off vs Inflation, Why Are Yields Up?
Good morning on this best day of the week Wed, from your Hometown Lender. Let’s dig into today’s market analysis and numbers. Core PCE came in at 0.2 vs a 0.3 forecast, and the bond market rallied a bit in response. That said, the unrounded number was .247, which about as high as it could […] The post Market Analysis 9.30: Bond Sell-Off vs Inflation, Why Are Yields Up? first appeared on Noble Home Loans.
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