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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-price-reacts-to-pce-data-release/" data-wpel-link="internal">Bitcoin Price Reacts to PCE Data Release</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 cryptocurrency 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 released 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/bitcoin-starts-the-week-at-26000-amid-negative-sentiment/" data-wpel-link="internal">Bitcoin</a></strong> moved, reaching the level of 59,822 dollars. 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 generally 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 financial markets and usually causes 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-the-pce-increases">If the PCE Increases</h2> 
<p style="text-align: justify">If the PCE increases, investors may generally turn to the dollar, 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 uncertainties 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 the PCE data. Since the PCE data came in low, all eyes are now 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-price-reacts-to-pce-data-release/" data-wpel-link="internal">Bitcoin Price Reacts to PCE Data Release</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-price-reacts-to-pce-data-release/" data-wpel-link="internal">Bitcoin Price Reacts to PCE Data Release</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Price Reacts to PCE Data Release

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