BREAKING: The Fed’s PCE Data Used to Measure Inflation Has Been Released! What Was Bitcoin’s (BTC) Initial Reaction?

The leading cryptocurrency, Bitcoin ($BTC), climbed back above $70,000 as the US-Iran war entered a two-week ceasefire.

The war between the two countries, which has been ongoing for more than a month, has driven up oil prices, increasing inflation concerns. In the March FOMC minutes released yesterday, the Fed raised the possibility of both interest rate increases and decreases simultaneously due to the effects of the war.

While there is talk that the Fed may delay interest rate cuts or even raise rates in the face of inflation risk, the February data on Personal Consumption Expenditures (PCE), which the Fed closely monitors when making interest rate decisions and is considered a leading indicator of inflation, has been released.

Accordingly, the personal consumption expenditure data for February were as follows:

Core Personal Consumption Expenditures Price Index (Annual) Announced 3.0% – Expected 3.0% – Previous 3.1%

Core Personal Consumption Expenditures Price Index (Monthly) Announced 0.4% – Expectation 0.4% – Previous 0.4%

Personal Consumption Expenditures Price Index (Annual) Announced 2.8% – Expected 2.8% – Previous 2.8%

Personal Consumption Expenditures Price Index (Monthly) Announced 0.4% – Expected 0.4% – Previous 0.3%

What was Bitcoin’s ($BTC) Initial Reaction?

*This is not investment advice.