Bitcoin Rising on New US Inflation Data
The price of bitcoin once again exceeded $95,000.
Inflation, although positive, was lower than expected.
The price of bitcoin (BTC) registered a significant rise after the publication of new data from the personal consumption expenditure (PCE) price index in the United States.
This report is key to evaluating inflation in financial and economic power, so Its impact is perceived in the markets, including bitcoin and cryptocurrencies..
The Bureau of Economic Analysis of the Department of Commerce public today the PCE data, which reflects a year-on-year increase in inflation to 2.4% in Novemberjust above the 2.3% recorded in October.
However, the figure remained below market expectations, which projected an increase of 2.5%.
As reported by CriptoNoticias, the PCE is one of the most relevant indicators for the Federal Reserve (Fed) in making monetary policy decisions. The current data could influence future interest rate decisionss, including possible cuts, in a context of economic slowdown.
Bitcoin exceeds $95,000
After knowing the inflation report, bitcoin rose from $92,000 to exceed $95,000 againas seen in the following graph of TradingView.
The rise occurs a few days after bitcoin reached an all-time high of $108,000, which indicates persistent volatility in its price. This new rally highlights the role of the digital asset as a refuge from economic uncertainties and inflationary policies.