MORNING MARKET BRIEF: Softer Inflation, Stronger Economy Bitcoin enters Q4 around $83.7K, while macro remains the main driver of risk assets. đșđž US inflation cools August PCE came in below expectations: Headline PCE: +3.4% YoY Core PCE: +3.0% YoY At the same time, US Q2 GDP was revised sharply higher to +2.2% annualized, while consumer spending jumped 0.9% MoM. Reuters That creates an interesting setup: Inflation â â less pressure on the Fed Growth â â long-term yields stay elevated Markets now price the probability of an October Fed hike at around 37%, down from roughly 51% before the PCE release. Reuters đ Wall Street ends mixed S&P 500 â0.25% Nasdaq +0.24% Dow â0.86% The US 10Y remains above 5%, and September delivered its biggest monthly yield increase since 2022. Reuters âż Crypto #BTC â $83.7K ETH â $2.69K Bitcoin remains relatively stable despite one of the toughest months for global bonds in years. CoinMarketCap đą Oil Active December Brent closed at $98.03, while WTI settled at $90.42. Oil remains a major macro variable after Brent gained around 14% in September. Reuters Bottom line Softer inflation is good news. But strong growth + resilient consumption + elevated Treasury yields mean the macro pressure hasnât disappeared. $BTC â $83.7K Brent â $98 US 10Y > 5% The next question: can yields finally move lower in Q4? WhyNot Research | Research the Future #BTC Price Analysis#
