Reserve

Core

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/positive-outlook-for-crypto-investors-as-btc-regains-support-amid-upcoming-fed-meeting/" data-wpel-link="internal">Positive Outlook for Crypto Investors as BTC Regains Support Amid Upcoming Fed Meeting</a><br></p>
<p style="text-align: justify">For cryptocurrency investors, today was relatively more positive, with <a href="https://en.coin-turk.com/bitcoin-price-continues-to-fall-under-selling-pressure-what-does-the-btc-price-chart-indicate/" data-wpel-link="internal">Bitcoin</a> (BTC) regaining the $40,400 support level. As you know, there is a Federal Reserve meeting this week, and the critical data expected before it has been announced. This data, which could directly affect the tone of the Fed at this meeting, will also show the progress in the fight against inflation.</p> 
<h2 style="text-align: justify" id="pce-data-in-the-us">PCE Data in the US</h2> 
<p style="text-align: justify">The Personal Consumption Expenditures (PCE) data, which is closely monitored by the US Federal Reserve as an indicator of inflation, has just been announced. The Fed, which has raised interest rates at an unprecedented pace for its 2 percent inflation target, caused the bankruptcy of numerous banks. It also caused massive fluctuations in risk markets. However, by the end of last year, it reached the peak of interest rates and is expected to start reductions this year.</p> 
<p style="text-align: justify">The reduction targeted by the Fed for this year (average member opinions) is towards a 75 basis points cut. However, the markets maintain their optimism for an interest rate cut between 150-160 basis points. While risk markets are trending positively amidst this optimism, developments that could undermine it may pull down Bitcoin and others.</p> 
<p style="text-align: justify">For all these reasons, the PCE inflation data is of critical importance. The data was expected to be 3% monthly, while the previously announced annual core PCE was 3.2%.</p> 
<ul style="text-align: justify"> 
 <li>US Core PCE Announced: 0.2% (Expectation: 0.2% Previous: 0.1%)</li> 
 <li>US Core PCE Announced: 2.9% (Expectation: 3% Previous: 3.2%)</li> 
</ul> 
<p style="text-align: justify">The data received is not bad for risk markets, with the annual core PCE coming in slightly lower than expected, which is positive. The statements to be made next week by Fed Chairman Powell are extremely important. There was no significant change in the expectation of an interest rate cut.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-307838 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/Fed-FAIZ-Gorunumu.png" alt="" width="597" height="280"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/positive-outlook-for-crypto-investors-as-btc-regains-support-amid-upcoming-fed-meeting/" data-wpel-link="internal">Positive Outlook for Crypto Investors as BTC Regains Support Amid Upcoming Fed Meeting</a></h5>

Positive Outlook for Crypto Investors as BTC Regains Support Amid Upcoming Fed Meeting

Table of Contents

COINTURK NEWS

Other articles published on Jan 26, 2024

Bitcoin (BTC) Reclaims $41,000; Can It Still Crash?

Bitcoin Adoption in Latin America 2024

Ethereum scaling solution AltLayer initiates $100M token airdrop

Web3 Apps Surge Potential of 2024 Led by Near Protocol (NEAR) and Arbitrum (ARB); Pullix (PLX) Lo...

Cardano & Midnight Have Separate Use Cases- Charles Hoskinson

Gaming NFT Marketplace Altcoin Surges More Than 35% in 24 Hours, Defying Crypto Market Doldrums

Join our free newsletter for daily crypto updates!