U.S. PCE Inflation Steady as Bitcoin Prices Rise
- PCE inflation remained unchanged at 2.8% year-over-year (YoY) in February, meeting expectations.
- Core PCE decreased to 3%, down from 3.1% in January, with a month-over-month (MoM) increase of 0.4%.
- Bitcoin’s price rose to approximately $71,200, recovering from an intraday low of $70,500.
- The Federal Reserve is expected to keep interest rates unchanged at the upcoming FOMC meeting on April 29th, with a 98.4% chance of no rate changes.
- March CPI data will be released tomorrow, anticipated to show a YoY increase to 3.3%.
The latest inflation data indicates stability in the U.S., which could positively impact the cryptocurrency market, particularly Bitcoin as it shows signs of recovery amidst these economic conditions.
With Bitcoin trading around $71,200 following steady PCE inflation figures, market participants are closely watching upcoming CPI data for further insights into inflation trends post-U.S.-Iran war.(Source)
