Bitcoin Plunges Below $108,000 as PCE Inflation Data Adds Volatility

Bitcoin’s price has experienced a significant drop, reaching its lowest point in over seven weeks at $108,100. This follows the release of US PCE inflation data, which showed an overall price increase of 2.6% in July and core PCE inflation rising by 2.9%—slightly higher than June’s figures. Although these numbers matched analysts’ expectations, the PCE data is the Federal Reserve’s preferred measure for inflation, with a percentage exceeding the central bank’s target. Despite this, experts anticipate no immediate changes to the Fed’s plans to decrease interest rates in September. 📈