BREAKING! The Fed’s Preliminary Inflation Data Has Been Released! Here’s Bitcoin’s Initial Reaction!

Bitcoin, the leading cryptocurrency, continues to trade around the critical $80,000 level following yesterday’s Federal Reserve interest rate decision, while data on Personal Consumption Expenditures (PCE), closely monitored by the Fed when making interest rate decisions and considered a leading indicator of inflation, was released. As is known, the Fed kept its policy interest rate stable at 3. 75-4 percent in October, while two members expressed their opinion in favor of a 25 basis point interest rate increase.

Following the decision, Fed Chairman Kevin Warsh stated that inflation is still running above the 2 percent target level. Accordingly, the personal consumption expenditure data for September were as follows: Core Personal Consumption Expenditures Price Index (Annual) Announced 3. 1% – Expected 3.

1% – Previous 3. 0% Core Personal Consumption Expenditures Price Index (Monthly) Announced 0. 3% – Expected 0.

3% – Previous 0. 3% Personal Consumption Expenditures Price Index (Annual) Announced 3. 6% – Expected 3.

6% – Previous 3. 4% Personal Consumption Expenditures Price Index (Monthly) Announced 0. 5% – Expected 0.

5% – Previous 0. 3% According to The Kobeissi Letter, US September PCE inflation, the Fed’s preferred measure of inflation, rose to 3. 6%.

Core PCE inflation also increased to 3. 1%, a 0. 3% increase compared to the previous month.

This officially confirms that CPI, PPI, and PCE inflations are all rising again. The report suggests that, based on these data, a rate hike is imminent in December. What was Bitcoin’s (BTC) Initial Reaction?

*This is not investment advice. Continue Reading: BREAKING! The Fed’s Preliminary Inflation Data Has Been Released!

Here’s Bitcoin’s Initial Reaction!