Bitcoin Briefly Tops $85,000 as US PCE Misses Forecasts
Cooler inflation and downward revisions to July's figures ease pressure on the Fed to keep interest rates elevated.
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Cooler inflation and downward revisions to July's figures ease pressure on the Fed to keep interest rates elevated.
August headline PCE rose 3.4% year over year, still above the Fed's 2% target, while mixed moves across stocks, oil, gold and the dollar left the market backdrop unsettled.
Cooling futures leverage and looming PCE data meet a sharp rise in Treasury yields, leaving crypto traders with a macro catalyst in view.
The pullback comes as traders await August PCE inflation data, with rising yields and oil prices keeping pressure on rate-sensitive markets.