Bitcoin Volatility Soars as Crypto Market Reacts to US PCE Data

Yesterday's US PCE data caused chaos in the crypto market, leading to wild price swings. Bitcoin (BTC) surged to $85,600 after the release but was quickly rejected and pulled back by over $2,500.

The sharp movement underscores the acute volatility of cryptocurrencies when it comes to macroeconomic data. This sensitivity is a double-edged sword for investors, as it presents both opportunities and risks.

Altcoins were not immune to the market's turmoil, with BTW jumping 35% today. NIGHT and STX also posted significant gains, rising by double-digit percentages.