BREAKING: The Fed's PCE Data Used to Measure Inflation Has Been Released! What Was Bitcoin's (BTC) Initial Reaction?

Leading cryptocurrency Bitcoin (BTC) is trading in a narrow range after its ATH of $123,000 in mid-July. Although economic data from the US has been positive in recent months, the Fed failed to make the expected interest rate cut in June and July, and hopes for a September rate cut have also diminished. Many crypto investors were expecting a September interest rate cut, but Fed Chair Jerome Powell's latest comments yesterday dampened those expectations. The probability of a September rate cut has now dropped to just 43%. “We remain very cautious about inflation risks,” Powell said at his latest press conference, emphasizing that they will wait and see until the next FOMC meeting on September 17-18, 2025. While the market is waiting for the September meeting, even though the possibility of an interest rate cut has diminished, data on Personal Consumption Expenditures (PCE), which the FED closely follows when making interest rate decisions and is considered a leading inflation indicator, has been released. Accordingly, personal consumption expenditures data for June were as follows: Core Personal Consumption Expenditure Price Index (Annual) Announced 2.8%– Expected 2.7%– Previous 2.7% Core Personal Consumption Expenditure Price Index (Monthly) Announced 0.3%– Expected 0.3%– Previous 0.2% Personal Consumption Expenditure Price Index (Annual) Announced 2.6%– Expected 2.5%– Previous 2.3% Personal Consumption Expenditure Price Index (Monthly) Announced 0.3%– Expected 0.3%– Previous 0.1% According to The Kobeissi Letter, PCE inflation has been rising for two consecutive months. Powell will now point to higher inflation. What Was Bitcoin (BTC's First Reaction? *This is not investment advice. Continue Reading: BREAKING: The Fed's PCE Data Used to Measure Inflation Has Been Released! What Was Bitcoin's (BTC) Initial Reaction?