#CorePCE #bitcoin
š Bitcoin Surpasses $85,000 Following US Inflation Data Release!
The Federal Reserve's key inflation indicatorāthe Core PCE indexācame in lower than analysts' forecasts. This triggered an immediate market surge and a return of risk appetite among investors.
š Key Figures:
ā¢ Core PCE (excluding food and energy): +0.2% month-over-month (expected 0.3%) and +3% year-over-year (forecasted 3.3%).
ā¢ Headline PCE: +0.3% month-over-month, +3.4% year-over-year.
š Market Reaction:
ā¢ BTC jumped from $84,000 to $85,600 within just an hour of the report's release.
ā¢ Altcoins also moved into the green: $ETH +1.5%, $SOL +2.2%, $ZEC +3.6%, HYPE +1.1%.
ā ļø What Does This Mean?
Slowing inflation eases pressure on bond yields and offers hope that the Fed will refrain from further interest rate hikes at its October meeting. It is a positive signal for investors, with the crypto market responding to the news with confident growth.
š Bitcoin Surpasses $85,000 Following US Inflation Data Release!
The Federal Reserve's key inflation indicatorāthe Core PCE indexācame in lower than analysts' forecasts. This triggered an immediate market surge and a return of risk appetite among investors.
š Key Figures:
ā¢ Core PCE (excluding food and energy): +0.2% month-over-month (expected 0.3%) and +3% year-over-year (forecasted 3.3%).
ā¢ Headline PCE: +0.3% month-over-month, +3.4% year-over-year.
š Market Reaction:
ā¢ BTC jumped from $84,000 to $85,600 within just an hour of the report's release.
ā¢ Altcoins also moved into the green: $ETH +1.5%, $SOL +2.2%, $ZEC +3.6%, HYPE +1.1%.
ā ļø What Does This Mean?
Slowing inflation eases pressure on bond yields and offers hope that the Fed will refrain from further interest rate hikes at its October meeting. It is a positive signal for investors, with the crypto market responding to the news with confident growth.
