Bitcoin is a representative virtual currency ($BTC), surpassed $70,000 as the war between the US and Iran entered a two-week ceasefire.
The war between the two countries, which has been going on for more than a month, has caused oil prices to soar, raising concerns about inflation. In its March FOMC meeting minutes released yesterday, the Fed raised the possibility of simultaneous rate hikes and rate cuts due to the effects of the war.
The February data on personal consumption expenditures (PCE), which the Fed closely monitors when setting interest rates and is considered a leading indicator of inflation, comes amid talk that the Fed could delay or even raise rates in the face of inflation risks.
As a result, personal consumption expenditure for February was as follows.
Core personal consumption expenditure price index (annual rate) Announced 3.0% – Forecast 3.0% – Previous 3.1%
Core personal consumption expenditure price index (monthly) Announced 0.4% – Forecast 0.4% – Previous 0.4%
Personal consumption expenditure price index (annual rate) Announced 2.8% – Forecast 2.8% – Previous 2.8%
Personal consumption expenditure price index (monthly) Announced value 0.4% – Expected value 0.4% – Previous value 0.3%
What was Bitcoin?$BTC) What was the initial reaction?
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