Ethereum

Reserve

Pepe

Jerome Powell

Bitcoin

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<ul> 
 <li>The core PCE, a preferred indicator for measuring inflation by the Federal Reserve, is expected to drop from last month’s 3.9% level to 3.7%.</li> 
 <li>Wall Street estimates are mostly in line with market consensus, responding to the impact of the Israel-Hamas conflict on energy prices.</li> 
 <li>Bitcoin and Ethereum are retracting as traders take profits following last Friday’s futures expiration and in response to fundamental PCE inflation data.</li> 
</ul> 
<p><strong>PCE data in the USA will be announced today by the US Bureau of Economic Analysis: Expectations and possible effects on the Bitcoin market!</strong></p> 
<h2 id="strong-pce-data-in-the-usa-will-be-released-today-strong"><strong>PCE Data in the USA Will Be Released Today</strong></h2> 
<p><img decoding="async" loading="lazy" class="alignnone size-full wp-image-126554" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?w=1920&amp;quality=70&amp;ssl=1 1920w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=1536%2C864&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>The US Bureau of Economic Analysis will release the September Personal Consumption Expenditures (PCE) inflation data today. The annual PCE inflation, following a 3.5% increase last month, is expected to be 3.4%. The core PCE, a preferred indicator for measuring inflation by the Federal Reserve, is expected to drop from last month’s 3.9% level to 3.7%. However, on a monthly basis, the core PCE is expected to accelerate from 0.1% to 0.3%.</p> 
<p>Lately, Federal Reserve Chair Jerome Powell has emphasized that the Fed is proceeding cautiously and that further tightening of monetary policy depends on incoming data. Powell highlighted a tight labor market but agreed that inflation is slowly approaching the 2% target. The Fed kept interest rates steady in the range of 5.25% to 5.50% last month.</p> 
<p>Wall Street estimates are mostly in line with market consensus, responding to the impact of the Israel-Hamas conflict on energy prices. Markets will remain volatile while accessing mixed earnings results and strong US GDP growth.</p> 
<p>US stock futures rose on Friday after two consecutive sessions of selling. A decrease in oil prices is expected due to reduced concerns related to the Middle East conflict. Additionally, the US Dollar Index (DXY) fell to 106.56.</p> 
<h2 id="strong-pre-pce-retraction-in-bitcoin-and-other-cryptos-strong"><strong>Pre-PCE Retraction in Bitcoin and Other Cryptos</strong></h2> 
<p>Bitcoin and Ethereum are retracting as traders take profits following last Friday’s futures expiration and in response to fundamental PCE inflation data. BTC price has dropped nearly 1% in the past 24 hours due to low trading volume. The 24-hour low and high are $33,762 and $34,774, respectively.</p> 
<p>On the other hand, ETH price dropped below $1,800 and is currently trading at $1,793. The 24-hour low and high are $1,764 and $1,865, respectively. However, the cryptocurrency markets saw increased activity following expectations of a Bitcoin ETF. After Pepe Coin’s rally in the last two days, FLOKI price surged by over 22% in the past 24 hours.</p> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/critical-inflation-data-for-the-us-to-be-released-today-could-be-critical-for-the-bitcoin-market/">Critical Inflation Data for the US to Be Released Today: Could Be Critical for the Bitcoin Market!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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Critical Inflation Data for the US to Be Released Today: Could Be Critical for the Bitcoin Market!

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