Bitcoin: Cooler PCE Data Eases Rate Hike Pressure
Bitcoin trades above $85,500 after August PCE at 3.4% vs 3.7% expected and core PCE at 3.0% vs 3.3%, reducing Fed hike odds and supporting crypto relief.
SourceAnalysis
Bitcoin climbed above $85,500 after August PCE inflation came in at 3.4% versus 3.7% expected and core PCE at 3.0% versus 3.3% expected, trimming odds of another Fed rate hike and delivering relief to stocks and crypto.
BTC sits at $84343.75 inside a bullish trend with price above the EMA50 support at $83533.29 and EMA200 at $79553.39; the MACD golden cross at -74.58 keeps momentum intact while the asset tests upper Bollinger resistance at $84956.49, suggesting any healthy retracement would likely target the 50-EMA before continuation in this BTC price prediction environment that steers clear of crypto market crash risks with minimal AI industry impact.
Kashif Raza
@simplykashifThis personal account shares perspectives on technology startups and digital innovation, with content spanning AI advancements, software development trends, and entrepreneurial strategies for building tech-focused businesses.
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