Bitcoin fails to sustain $85,000 breakout, and bond yield spikes are blamed
Summary
Bitcoin briefly climbed above $85,000 after August US PCE inflation data, then reversed below $84,000 as bond yields rebounded and stocks recovered. At the cited reading, BTC was near $84,000 and up 0.56% over 24 hours. The BEA reported headline PCE inflation of 0.3% month over month and 3.4% year over year; core PCE rose 0.2% monthly and 3.0% annually. The report included revised historical data, so comparisons with older estimates require care. The figures added to the Fed policy debate but did not settle its next move. Other markets showed mixed paths, and the report cautioned that intraday readings cover different time windows.
