Bitcoin Stays Rangebound: Can Wednesday’s PCE Inflation Release Change Things?
8 Articles
8 Articles
Bitcoin touched the $85,000 mark as U.S. inflation data came in lower than market expectations, but gave back its gains as concerns over rising long-term Treasury yields intensified. According to CoinMarketCap, a global cryptocurrency market data site, Bitcoin was trading at $83,531.99 as of 8:57 AM on the 1st, down 0.11% from 24 hours ago. Ethereum, the second-largest cryptocurrency by market capitalization, fell 0.24%.
Bitcoin remains stable on Wednesday (30), but remains below the recent peaks, at a time when the improvement in demand by cryptocurrencies stifles the maintenance of American long interest rates at high levels. The disclosure of the August PCE today, a measure of inflation preferred by the Fed, did not have much effect on the cryptocurrencies market so far. The core of the indicator and the accumulated ‘core' of the index in 12 months came below…
CryptoTendence Bitcoin remains within the range after reacting to the PCE. We analyze absorptions, balance ends and key levels for tomorrow. The entry Bitcoin today: BTC reacts to the PCE, but still trapped in the range was first published in CryptoTendence.
US Core PCE and Spending Data Today: Can Bitcoin Keep Rising Despite a Hotter Inflation Signal?
Bitcoin faces a test of its bullish resilience as today’s U.S. inflation and spending figures threaten to raise expectations for tighter monetary policy. With BTC holding around $83,000, the question is how much macroeconomic pressure buyers can absorb before the data changes its price structure. Core PCE and Spending Put Bitcoin’s Strength to the Test […] Read The Full Article US Core PCE and Spending Data Today: Can Bitcoin Keep Rising Despite…
Bitcoin is holding steady near $83,700, having halted its recent rally, while markets await crucial U.S. inflation data and indications that could influence the Federal Reserve’s interest rate path. Wednesday’s key macroeconomic release is the Personal Consumption Expenditures (PCE) index, the Federal Reserve’s preferred inflation measure. Core PCE, which excludes food and energy prices, is expected to rise 0.3% month-on-month and 3.3% year-on-y…
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cryptodaily.co.ukBitcoin Stays Rangebound: Can Wednesday’s PCE Inflation Release Change Things?
The Bitcoin price is still in a range from $83K up to $87K. Wednesday’s PCE inflation data is released later in the day. Could this change things for the $BTC price? A hot or cool Core PCE print? The PCE Price Index (Personal Consumption Expenditures) is what the Federal Reserve uses to measure...
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