$BTC Almost touching 85,000 dollars after better-than-expected inflation news. Then oil prices pulled everything back.
This morning, the US released September PCE inflation, cooler than expected, around 3.3%. $BTC jumped straight from 83,900 dollars to a peak of 85,650 dollars in just one hour, $XRP also climbed from 1,516 to 1,544 dollars.
The data was confirmed simultaneously by CoinDesk and CoinGape, along with the upward move on the charts.
But the rush of optimism didn’t last long. World oil prices turned higher, dragging both BTC and XRP to give back nearly all of the gains they had just made. BTC fell below 83,400 dollars before rebounding slightly as it is now.
This kind of “good news” being swallowed within less than two hours is something that has been repeating lately—inflation cools off, but energy costs remind the market that the problem isn’t over yet.
Worth watching next: if oil keeps rising, will the BTC/XRP rebound hold the 84,000-dollar area?
Personal observation only, not investment advice
#BTC #XRP #Crypto #Bitcoin #Lamphat
This morning, the US released September PCE inflation, cooler than expected, around 3.3%. $BTC jumped straight from 83,900 dollars to a peak of 85,650 dollars in just one hour, $XRP also climbed from 1,516 to 1,544 dollars.
The data was confirmed simultaneously by CoinDesk and CoinGape, along with the upward move on the charts.
But the rush of optimism didn’t last long. World oil prices turned higher, dragging both BTC and XRP to give back nearly all of the gains they had just made. BTC fell below 83,400 dollars before rebounding slightly as it is now.
This kind of “good news” being swallowed within less than two hours is something that has been repeating lately—inflation cools off, but energy costs remind the market that the problem isn’t over yet.
Worth watching next: if oil keeps rising, will the BTC/XRP rebound hold the 84,000-dollar area?
Personal observation only, not investment advice
#BTC #XRP #Crypto #Bitcoin #Lamphat
