Bitcoin (BTC) renewed its ATH last week, rising above $111,000. However, it fell to $105,000 after profit taking.
BTC experienced sudden declines after US President Donald Trump said that China had completely violated the agreement between the two countries.
While altcoins accompanied this decline, data on Personal Consumption Expenditures (PCE), which the FED closely follows when making interest rate decisions and is considered a leading inflation indicator, were announced.
Accordingly, personal consumption expenditures data for April were as follows:
Core Personal Consumption Expenditure Price Index (YoY) Announced 2.5%– Expected 2.5% – Previous 2.6%
Core Personal Consumption Expenditure Price Index (Monthly) Announced 0.1%– Expected 0.1%– Previous 0.0%
Personal Consumption Expenditure Price Index (Annual) Announced 2.1%– Expected 2.2%– Previous 2.3%
Personal Consumption Expenditure Price Index (Monthly) Announced 0.1%– Expected 0.1%– Previous 0.0%
What Was Bitcoin (BTC)'s First Reaction?
Following the data, Bitcoin price rose to $105,750.
*This is not investment advice.
