Crypto
Bitcoin Tumbles Below $78,600 Amid Rising US Inflation
Bitcoin's price dipped below $78,600 after US inflation data showed a 3.7% rise in the PCE price index, surpassing the Fed's 2% target.
Treasury yields and the US dollar strengthened as investors grew concerned about persistent inflation.
The market is now focused on Fed Chair Kevin Warsh's upcoming Jackson Hole speech, which could signal whether the Fed will prioritize controlling inflation with higher rates or support economic growth with potential rate cuts.