Bitcoin briefly topped $85,500 after softer US inflation data
Image: CryptoPotatoBitcoin briefly topped $85,500 after the August U.S. PCE report showed softer inflation. Headline PCE rose 3.4% year over year, while core PCE eased to 3.0%, below the 3.3% forecast. The data lowered expectations for an October Fed rate hike. Bond yields were also a concern for traders.
Key points
- The August PCE report showed headline inflation at 3.4% year over year.
- Core PCE eased to 3.0%, below the 3.3% forecast.
- The data lowered expectations for an October Fed rate hike.
- Bond yields were a concern for traders.
Why it matters
Bitcoin's move showed crypto prices reacting to U.S. inflation data and bond yields. The report also affected expectations for an October Fed rate hike.
What's unclear
The exact Bitcoin intraday high differs across reports: $85,600 versus $85,518.
Price context · BTC
At publication
$83,335.00
Now
$83,355.00
Change since
+0.02%
7 days · dashed line = publication
Sources · 2 publishers
Coinspeaker
Tier 3
Bitcoin Price Forecast: PCE Came Softer Than Expected, Now What?
Coverage timeline
- First reported by CryptoPotato
- Confirmed by Coinspeaker
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
