Crypto Markets on Edge as Crucial US Inflation Report Drops Tonight
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- Crypto markets await tonight’s US PCE inflation data, key for Fed rate cut decisions.
- Economists expect a soft PCE print, potentially boosting Bitcoin and other risk assets.
- A high PCE reading (0.3%+ monthly core) could trigger crypto price drops and volatility.
The U.S. Bureau of Economic Analysis is scheduled to release its key inflation gauge, the Personal Consumption Expenditures (PCE) Price Index, tonight, putting the crypto market on watch for potential turbulence, which is a critical indicator for the Federal Reserve.
With Bitcoin hovering around $106,000 and altcoins in a state of flux, traders are eyeing the PCE data for cues that could tip the scales toward long-awaited interest rate cuts.
What Economists Are Expecting from Core PCE
Economists expect the core PCE to rise just 0.1% in April, a soft print that would extend a three-month cooling streak in inflation. On a yearly basis, the headline PCE is projected to drop to 2.2%, its lowest in seven months, while the core reading is forecast to ease to 2.5%, the softest since March 2021.
The post Crypto Markets on Edge as Crucial US Inflation Report Drops Tonight appeared first on Coin Edition.
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