Bitcoin stable as Fed fave PCE inflation sees first monthly drop in six years
Summary
Bitcoin held near $64,500 as US stocks and crypto rebounded after inflation data eased market चिंता. The June PCE index rose 3.7% year over year, matching expectations and down from May’s 4.1%, marking the first monthly decline since 2020. Despite that slowdown, inflation remains well above the Fed’s 2% target. Risk assets benefited as semiconductor sell-off fears faded, with the S&P 500 up about 1% and the Nasdaq about 2.3%. The Fed kept rates unchanged this week, and Bitwise CIO Matt Hougan said future rate moves may matter less for bitcoin because expected changes are likely to be smaller than in past cycles.
