🚨 PCE Came Hotter Than Expected— Is This The End Of $BTC 's Rally?
Okay, this is not the inflation number BTC bulls wanted.
Headline PCE came at 3.7% YoY vs 3.6% expected.
Core PCE came at 3.3% YoY, basically matching expectations.
Core PCE MoM was 0.2%, also in line.
So it wasn't a huge shock, but the main problem is simple: inflation didn't really improve.
BTC already reacted. Price dropped from around $79K toward $78K, and that happened before the U.S. market was even fully open.
Because of that, I'm not opening a fresh long here. I don't want to chase while the market is still digesting the data. A quick short can make more sense than a long **if BTC keeps rejecting, but I'm not expecting PCE alone to send BTC straight to $70K or $60K.
For me, Friday is now more important than today's number.
Today's hotter inflation gives the Fed another reason to stay cautious, so Jackson Hole can bring much bigger volatility. But if the market already prices in a hawkish message and Friday comes in less hawkish than feared, BTC can still pump.
So I'm not flipping fully bearish.
PCE = warning.
Jackson Hole = bigger test.
Now I'm watching $78K, DXY and yields.
For today, I'd rather wait than chase a long into this volatility. $ETH $SOL
Okay, this is not the inflation number BTC bulls wanted.
Headline PCE came at 3.7% YoY vs 3.6% expected.
Core PCE came at 3.3% YoY, basically matching expectations.
Core PCE MoM was 0.2%, also in line.
So it wasn't a huge shock, but the main problem is simple: inflation didn't really improve.
BTC already reacted. Price dropped from around $79K toward $78K, and that happened before the U.S. market was even fully open.
Because of that, I'm not opening a fresh long here. I don't want to chase while the market is still digesting the data. A quick short can make more sense than a long **if BTC keeps rejecting, but I'm not expecting PCE alone to send BTC straight to $70K or $60K.
For me, Friday is now more important than today's number.
Today's hotter inflation gives the Fed another reason to stay cautious, so Jackson Hole can bring much bigger volatility. But if the market already prices in a hawkish message and Friday comes in less hawkish than feared, BTC can still pump.
So I'm not flipping fully bearish.
PCE = warning.
Jackson Hole = bigger test.
Now I'm watching $78K, DXY and yields.
For today, I'd rather wait than chase a long into this volatility. $ETH $SOL
