Leading cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and altcoins had a very bad week. The market, which suffered a major crash at the beginning of the week, also experienced a sharp decline last night.
While these declines are expected to be the last before October, historically known as the month of rise, data on Personal Consumption Expenditures (PCE), which the FED closely follows when making interest rate decisions and is considered a leading inflation indicator, has been released.
Accordingly, personal consumption expenditures data for August were as follows:
Core Personal Consumption Expenditure Price Index (Annual) Announced 2.9%– Expected 2.9%– Previous 2.9%
Core Personal Consumption Expenditure Price Index (Monthly) Announced 0.2%– Expected 0.2%– Previous 0.3%
Personal Consumption Expenditure Price Index (Annual) Announced 2.7%– Expected 2.7%– Previous 2.6%
Personal Consumption Expenditure Price Index (Monthly) Announced 0.3% – Expected 0.3% – Previous 0.2%
What Was Bitcoin (BTC’s First Reaction?
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-the-feds-leading-inflation-data-released-heres-bitcoins-first-reaction/
