Reserve

Jerome Powell

Bitcoin

<p><a href="https://en.coin-turk.com/us-inflation-report-impacts-decoding-its-potential-effect-on-bitcoin-and-altcoins/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>: This Surprising Prediction for Bitcoin and Altcoins Will Be Announced Today</p>
<p style="text-align: justify">Investors’ attention is turned towards the personal consumption expenditures (PCE) data for September, which will be announced today at 15:30 GMT by the US Bureau of Economic Analysis. The course of the cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a>, along with the global markets, will be shaped according to the announced data.</p>
<h2 style="text-align: justify" id="investors-focus-on-september-pce-data">Investors’ Focus on September PCE Data</h2>
<p style="text-align: justify">Following last month’s annual PCE data, which rose to 3.5%, it is expected to be 3.4% in September. The core PCE, which is a critical data focused on by the Federal Reserve (Fed) to measure inflation, is expected to decrease from 3.9% last month to 3.7%, while the monthly core PCE is expected to rise from 0.1% to 0.3%.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-270848" src="https://coin-turk.com/wp-content/uploads/2023/10/Fed-Bitcoin-Altcoin-Veri.jpeg" alt="" width="1280" height="720"></p>
<p style="text-align: justify">In recent days, Fed Chairman Jerome Powell emphasized the importance of data like PCE, stating that the Fed proceeds cautiously and that the tightening of monetary policy depends on the incoming data. He also pointed out the tight labor market and agreed that inflation is gradually falling towards the 2% target.</p>
<p style="text-align: justify">Wall Street estimates are mostly in line with market consensus in response to the impact of the Israel-Hamas war on energy prices. Investors expect high volatility in the markets due to mixed earnings reports that exceed or fall short of expectations and the strong 4.9% GDP growth in the US. US stock futures are trading higher ahead of today’s session after falling for two consecutive trading sessions. The US Dollar Index (DXY) has declined to 106.56 due to a decrease in concerns about conflicts in the Middle East, and a decrease in oil prices is expected.</p>
<h2 style="text-align: justify" id="bitcoin-and-altcoins-fall-ahead-of-critical-data">Bitcoin and Altcoins Fall Ahead of Critical Data</h2>
<p style="text-align: justify">Bitcoin, the largest cryptocurrency, and the largest altcoin, Ethereum, which serves as a guide for the altcoin market, are experiencing selling pressure ahead of the critical inflation data to be announced at 15:30 GMT today, following the expiration of $4.5 billion worth of options at 11:00 GMT. Due to low trading volume, the price of <a href="https://en.coin-turk.com/ripple-ceo-celebrates-victory-against-sec-calls-them-a-bully/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> has dropped by approximately 1.08% in the last 24 hours. The lowest and highest price levels in the last 24 hours were recorded as $33,762 and $34,774, respectively.</p>
<p style="text-align: justify">The price of ETH has fallen below $1,800 and is trading at $1,787. The lowest and highest price levels for the largest altcoin in the last 24 hours were recorded as $1,764 and $1,865, respectively.</p> Continue Reading: <a href="https://en.coin-turk.com/investors-focus-on-september-pce-data/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/investors-focus-on-september-pce-data/</a>

Investors’ Focus on September PCE Data

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