✉news BusinessCrypto first seen 1 d ago, last 1 d ago, peak #29
Bitcoin rises as soft PCE data eases rate hike fears
Original: Bitcoin gains as rate hike expectations ease after soft PCE data
Bitcoin is trading higher after new US personal consumption expenditures data came in softer than expected, easing expectations of further Federal Reserve interest rate hikes. Softer inflation figures tend to lift risk assets, and traders are reading the print as a sign the central bank may pause or slow its tightening cycle, boosting crypto prices.
Why now: Softer-than-expected US inflation data has shifted Fed rate expectations, moving crypto and other risk assets higher.
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Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/534615