Bitcoin and altcoins are trying to recover from the sharp declines. BTC is still trading below $90,000 with only a few months left in the first quarter.
While there was curiosity about whether BTC would explode, data on Personal Consumption Expenditures (PCE), which the FED closely follows when making interest rate decisions and is considered a leading inflation indicator, was announced.
Accordingly, personal consumption expenditures data for January were as follows:
Core Personal Consumption Expenditure Price Index (YoY) Announced 2.8%– Expected 2.7% – Previous 2.6%
Core Personal Consumption Expenditure Price Index (Monthly) Announced 0.4%– Expected 0.3%– Previous 0.3%
Personal Consumption Expenditure Price Index (Annual) Announced 2.5%– Expected 2.5%– Previous 2.5%
Personal Consumption Expenditure Price Index (Monthly) Announced 0.3% – Expected 0.3% – Previous 0.3%
What Was Bitcoin (BTC)’s First Reaction?
*This is not investment advice.