US PCE Data Release Hits Expectations, BTC Price Holds Steady

The release of the US PCE data, which measures inflation, has been announced. Bitcoin's price had risen to over $81,000 before pulling back somewhat.

As expected by the market, the Core Personal Consumption Expenditures Price Index (Annual) came in at 3.3%, with the monthly figure at 0.2%. The Personal Consumption Expenditures Price Index (Annual) also met expectations at 3.7%.

The data has important implications for interest rates and Bitcoin's price. If the PCE report had come in below expectations, it could have led to a more relaxed monetary policy from the Fed, potentially supporting Bitcoin's price. However, since the numbers matched expectations, there may be short-term selling pressure on Bitcoin.