Bitcoin stable as Fed fave PCE inflation sees first monthly drop in six years
CoinTelegraph·
60-second summary
Bitcoin remains stable as the US PCE inflation rate sees its first monthly drop in six years, conforming to year-on-year expectations. This easing inflation data has triggered a relief bounce in US stocks and Bitcoin, with the semiconductor rout in South Korea also showing signs of abatement, benefiting the cryptocurrency market.
Bitcoin and US stocks enjoyed a relief bounce as the South Korea semiconductor rout eased and US PCE inflation data conforms to year-on-year expectations.