✉news BusinessCrypto first seen 21 h ago, last 12 h ago, peak #9
Bitcoin steadies as soft PCE inflation data eases Fed hike bets
Original: Bitcoin steadies as soft PCE cools October Fed rate hike bets
Bitcoin held steady after US inflation data came in softer than expected, with the PCE price index cooling expectations that the Federal Reserve will raise interest rates in October. Traders read the data as a positive signal for risk assets, easing pressure on crypto markets and helping bitcoin consolidate after recent volatility. Analysts say Fed policy expectations remain a key driver of bitcoin's price action.
Why now: Fresh US PCE inflation data shifted expectations for Federal Reserve rate policy, directly affecting bitcoin and crypto markets.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/505885