Crypto Stocks Brace for PCE Inflation Data Release Chaos

The upcoming release of US PCE inflation data on September 30 is set to cause volatility in the stock prices of Coinbase (COIN) and Circle (CRCL), two major players in the crypto space.

Investors expect the headline inflation rate to drop from 3.7% in July to 3.6%, while the core PCE is expected to increase by 0.3% month-on-month, but year-over-year growth is expected to slow down from 3.3% to 3.2%

Tom Lee, Chairman of Bitmine, has noted that the PCE year-over-year inflation could drop to 3%, which would be a bullish sign for COIN and CRCL stock prices.

Meanwhile, three Federal Reserve officials will be speaking at events between September 28 and October 2, which could also impact market sentiment and potentially raise or lower the odds of interest rate hikes.