✉news BusinessCrypto first seen 2 d ago, last 2 d ago, peak #24
Bitcoin and XRP whipsaw as inflation data meets surging oil prices
Original: Bitcoin, XRP Whipsaw On Positive PCE Inflation Print Battling Surging Oil Prices
Bitcoin and XRP swung sharply after the release of a favorable PCE inflation print, a key Federal Reserve inflation gauge, was offset by rising oil prices that stoked fresh concerns about persistent inflation. Traders weighed the prospect of earlier rate cuts against energy-driven price pressures, leaving major cryptocurrencies choppy as markets digested the mixed macro signals.
Why now: Markets are reacting to conflicting signals from cooling inflation data and surging oil prices, leaving the direction of interest rates uncertain.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/505900