While Bitcoin (BTC) fell to $ 59,000 again with the decline it experienced, data on Personal Consumption Expenditures (PCE), which is closely followed by the FED when making interest rate decisions and is considered a leading inflation indicator, were announced.
Accordingly, all data announced regarding personal consumption expenditures in June were as follows:
Core Personal Consumption Expenditure Price Index (YoY) Announced 2.6% – Expected 2.7% – Previous 2.6%
Core Personal Consumption Expenses Price List (Monthly) Announced 0.2% – Expected 0.2% – Previous 0.2%
Personal Consumption Expenditure Price Index (Annual) Announced 2.5%– Expected 2.6%– Previous 2.5%
Personal Consumption Expenditure Price Index (Monthly) Announced 0.2% – Expected 0.2% – Previous 0.1%
What Was Bitcoin's First Reaction?
Interest Rate Cut Expectations Continue!
It is now considered certain that the first rate cut will be made in September, after FED Chairman Jerome Powell gave signals at the Jacksn Hole Symposium he attended last week.
According to CEM FedWatch, a 25 basis point cut by the FED on September 18 is priced in at 67%, while a 50 basis point cut is priced in at 33%.
*This is not investment advice.