Today's macro event that matters more than any chart đ
Core PCE for August drops today at 8:30 AM ET â the Fed's preferred inflation gauge, and the exact number it's anchoring its October 28 rate decision to.
Bitcoin's sitting right on its $83,000 support after pulling back from $87K earlier this month. The setup is binary:
- Core PCE comes in hot (above ~0.3%) â strengthens rate-hike expectations, likely pressures BTC below $83K, opening a path toward $80,500
- Core PCE comes in soft â could fuel a relief bounce back toward $85K-$87K
Context: spot BTC ETFs have pulled in $3B over the past 8 days despite the price pullback â inflows staying strong while price cools is usually a sign institutions are buying the dip, not chasing the top.
$83K is the level to watch this afternoon. Which way do you think this breaks?
$BTC
$ETH
#bitcoin #CorePCE #CryptoMarket
Core PCE for August drops today at 8:30 AM ET â the Fed's preferred inflation gauge, and the exact number it's anchoring its October 28 rate decision to.
Bitcoin's sitting right on its $83,000 support after pulling back from $87K earlier this month. The setup is binary:
- Core PCE comes in hot (above ~0.3%) â strengthens rate-hike expectations, likely pressures BTC below $83K, opening a path toward $80,500
- Core PCE comes in soft â could fuel a relief bounce back toward $85K-$87K
Context: spot BTC ETFs have pulled in $3B over the past 8 days despite the price pullback â inflows staying strong while price cools is usually a sign institutions are buying the dip, not chasing the top.
$83K is the level to watch this afternoon. Which way do you think this breaks?
$BTC
$ETH
#bitcoin #CorePCE #CryptoMarket
