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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-reacts-to-lower-than-expected-pce-data/" data-wpel-link="internal">Bitcoin Reacts to Lower Than Expected PCE Data</a><br></p>
<p style="text-align: justify">The US Personal Consumption Expenditures Price Index (<strong>PCE</strong>) is considered an important indicator of inflation in the economy. Therefore, it is closely monitored by the Federal Reserve (Fed). Not only the Fed but also the <strong>cryptocurrency</strong> world closely follows this <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>. The data was just released.</p> 
<h2 style="text-align: justify" id="how-did-the-pce-data-shape-up">How Did the PCE Data Shape Up?</h2> 
<p style="text-align: justify">The US Personal Consumption Expenditures Price Index (PCE) was just announced. The reported data came in at 2.5%. The expectation was for it to be 2.6%. We see that the data came in below expectations. After the data release, the price of <strong><a href="https://en.coin-turk.com/insights-on-bitcoins-growth-factors-and-crypto-market-value/" data-wpel-link="internal">Bitcoin</a></strong> moved, and BTC reached the level of $59,822. So why was this data important for Bitcoin and cryptocurrency investors?</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-384451 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSD_2024-08-30_15-31-39.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">As is known, a rise in the PCE usually indicates increasing inflationary pressures, which may lead the Fed to decide to raise <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a>. An increase in interest rates puts pressure on traditional <strong>financial markets</strong> and generally leads to a flight from risky assets. If the PCE comes in low, it allows the Fed to consider lowering interest rates.</p> 
<h2 style="text-align: justify" id="if-pce-increases">If PCE Increases</h2> 
<p style="text-align: justify">If the PCE shows an increase, investors may generally turn to the dollar, which is considered a safe haven. Such a development could inevitably lead to a decrease in the price of risky assets like Bitcoin. Although Bitcoin is seen by some investors as a hedge against inflation during periods of high inflation, market uncertainty can cause fluctuations in Bitcoin’s price.</p> 
<p style="text-align: justify">Changes in the PCE index can affect Bitcoin’s price. Therefore, the <strong>cryptocurrency</strong> community closely follows PCE data. Since the PCE data came in low, attention is now focused on the Fed’s potential interest rate cuts.</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/bitcoin-reacts-to-lower-than-expected-pce-data/" data-wpel-link="internal">Bitcoin Reacts to Lower Than Expected PCE Data</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-reacts-to-lower-than-expected-pce-data/" data-wpel-link="internal">Bitcoin Reacts to Lower Than Expected PCE Data</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Reacts to Lower Than Expected PCE Data

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