Bitcoin Reacts to the Latest Fed PCE Data Release

Following the release of the Personal Consumption Expenditures (PCE) data, which is closely monitored by the Federal Reserve for interest rate decisions and serves as a key inflation indicator, Bitcoin’s price remained within a stable range after exceeding $124,000 in mid-August. Analysts anticipate the Fed may hold off on interest rate cuts, despite expectations of a change from previous months. 85% of market analysts expect an interest rate cut soon, but this has been postponed until September.