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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-rebounds-as-altcoins-surge-amidst-us-economic-data-release" rel="noopener noreferrer nofollow">Bitcoin Rebounds as Altcoins Surge, Amidst US Economic Data Release</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-awaits-breakthrough-tone-vays-foresees-rally-upon-resistance-flip-to-support" rel="noopener noreferrer nofollow">Bitcoin</a> has recently rebounded to $62,700 after touching a high of $64,000, while altcoin investors are witnessing gains exceeding 20%. These market movements are in the context of the release of key economic data from the United States, particularly the Personal Consumption Expenditures (PCE) index, which is a significant measure of inflation.</p>
<h2 id="economic-indicators-and-market-impact">Economic Indicators and Market Impact</h2>
<p style="text-align: justify">Federal Reserve officials have unanimously stressed the risks of prematurely easing monetary policy, insisting on a cautious approach to support the battle against inflation. While a moderation in inflation is observed, Fed members are keenly focused on the PCE data as they strive to maintain inflation near the 2% goal. The latest PCE figures are garnering extra attention due to last month’s unexpectedly high inflation rates.</p>
<p style="text-align: justify">The newly released data, considered a key indicator of inflation pressures, showed a PCE of 2.4%, aligning with expectations but down from the previous 2.6%. Additionally, unemployment claims were slightly above forecasts at 215,000, compared to the anticipated 210,000 and the former count of 201,000.</p>
<h2 id="cryptocurrency-market-responds">Cryptocurrency Market Responds</h2>
<p style="text-align: justify">While higher unemployment claims are typically seen as a positive sign, the alignment of PCE data with forecasts suggests a steady deceleration of inflation, which could have mixed implications for the <a href="https://en.bitcoinhaber.net/bitcoins-long-term-target-revealed-83000-says-analyst" rel="noopener noreferrer nofollow">cryptocurrency</a> market. Despite the ambiguity, the market has responded favorably, with the potential for Bitcoin to climb past $64,000, especially if the trading volume for Bitcoin ETFs mirrors yesterday’s record figures.</p>
<p style="text-align: justify">As investors and traders digest the economic data, the cryptocurrency market’s reaction remains robust, highlighting the dynamic relationship between macroeconomic indicators and digital asset valuations.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-rebounds-as-altcoins-surge-amidst-us-economic-data-release" rel="noopener noreferrer nofollow">Bitcoin Rebounds as Altcoins Surge, Amidst US Economic Data Release</a></h5>

Bitcoin Rebounds as Altcoins Surge, Amidst US Economic Data Release

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