Mmastodon BusinessCrypto first seen 7 h ago, last 6 h ago, peak #5

US inflation data beats forecasts, Bitcoin rallies

Original: Inflationsdaten deutlich besser als die Prognosen # Bitcoin zieht deutlich an PCE-Kernrate Preisindex (Jahr) (Aug) 3,0 %

New US economic data came in better than expected: the core PCE price index rose 3.0 percent year-on-year in August instead of the forecast 3.3 percent, and 0.2 percent monthly rather than 0.3 percent. Second-quarter GDP growth was also revised up to 2.2 percent from 1.5 percent. Lower-than-expected inflation lifted hopes of easier monetary policy, and Bitcoin rose sharply on the news.

Why now: Softer-than-expected US inflation figures fuelled rate-cut hopes and a Bitcoin rally.

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Evidence

• Inflationsdaten deutlich besser als die Prognosen # Bitcoin zieht deutlich an PCE-Kernrate Preisindex (Jahr) (Aug) 3,0 % statt 3,3 % PCE-Kernrate Preisindex (Monat) (Aug) 0,2 % statt 0,3 % Bruttoinlandsprodukt (BIP) (Quartal) (Q2) 2,2 % statt 1,5 % https://… · crypto_schlingel

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