I was watching the charts and Bitcoin jumped fast. Within minutes of a big US inflation report, it went above $85,000. I want to explain what happened in simple words.
First, what is PCE?
PCE is a number that shows how fast prices are rising in the US. It is the inflation gauge the Federal Reserve (the Fed) watches most closely. When prices rise too fast, the Fed can raise interest rates to slow things down.#EthereumFoundationLaunchesZkAPIOnMainnet #EvernorthPlansNasdaqListingOct8 #SECProposesCryptoCustodyFramework #AnthropicTargetsIPOAsSoonAsMidNovember
First, what is PCE?
PCE is a number that shows how fast prices are rising in the US. It is the inflation gauge the Federal Reserve (the Fed) watches most closely. When prices rise too fast, the Fed can raise interest rates to slow things down.#EthereumFoundationLaunchesZkAPIOnMainnet #EvernorthPlansNasdaqListingOct8 #SECProposesCryptoCustodyFramework #AnthropicTargetsIPOAsSoonAsMidNovember
