Bitcoin is a representative virtual currency ($BTC) is struggling around $71,000 amid uncertainty and tensions created by the US-Iran conflict.
The war between the two countries has caused oil prices to soar, indirectly raising concerns about inflation. Analysts worry that the latest rise in energy prices could put new upward pressure on inflation, which the Federal Reserve has long sought to bring down to its 2% target.
The January statistics on personal consumption expenditures (PCE), which the Fed closely monitors when setting interest rates and is considered a leading indicator of inflation, come amid talk that the Fed may delay or even raise rates in the face of inflation risks.
As a result, personal consumption expenditure in December was as follows.
Core personal consumption expenditure price index (annual rate) Announced 3.1% – Forecast 3.1% – Previous 3.0%
Core personal consumption expenditure price index (monthly) Announced 0.4% – Forecast 0.4% – Previous 0.4%
Personal consumption expenditure price index (annual rate) Announced 2.8% – Forecast 2.9% – Previous 2.9%
Personal consumption expenditure price index (monthly) Announced 0.3% – Forecast 0.3% – Previous 0.4%
What was Bitcoin?$BTC) What was the initial reaction?
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