U.S. Recession Fears Weigh on Bitcoin as PCE Data Shows Slight Inflation Drop

The United States economy is experiencing contraction, putting pressure on the Federal Reserve to navigate a difficult path. This economic uncertainty has cast a shadow over Bitcoin’s price amidst declining market sentiment. 2023 marks a period of heightened market volatility as investors await crucial PCE data, which suggests a slight slowdown in inflation while job data and stock market performance remain unfavorable. This week’s release of the U.S. Personal Consumption Expenditures (PCE) numbers is garnering close attention. Continue reading to explore how these economic trends are impacting Bitcoin’s price.