Bitcoin steadies as soft PCE cools October Fed rate hike bets
60-second summary
Bitcoin steadies near $83,700 as core PCE inflation eases, rising only 0.2% in August and softening expectations for an October Federal Reserve rate hike. Lower inflation pressure reduces Treasury yield spikes, limiting further crypto gains. The market interprets the data as a brief reprieve, but lingering yield strength could still cap Bitcoin’s upside.
Core PCE rose just 0.2% in August, easing pressure for an October Fed hike. Bitcoin trades near $83,700 as rising Treasury yields cap gains.