Today, the US Personal Consumption Expenditures (PCE) inflation data will be officially released. The market expects PCE and core PCE data for September to remain roughly in line with last month. The overall PCE inflation rate is expected to edge up slightly to 2.8%. This data will directly impact the Federal Reserve’s interest rate cut decisions and future economic forecasts, especially in the context of expiring cryptocurrency options, where Bitcoin and other cryptocurrency markets are expected to experience volatility.
Wall Street expects September PCE inflation to remain “sticky,” with core PCE annual growth at 2.9%. Market analysts believe that if this month’s data comes in below expectations, the likelihood of a Fed rate cut will increase. The Fed’s stance is particularly crucial, with the CME’s FedWatch tool showing the market assigns an 87% probability to a 25 basis point rate cut in December, bringing the target rate down to the 3.50%-3.75% range.
Bitcoin’s price remains above $92,000 amid optimism over a Fed rate cut. Expert analysis suggests that if the $91,500 support level holds, Bitcoin could rebound to $100,000. The sentiment in the cryptocurrency market is currently relatively subdued, with derivatives trading volume down 20% and the total amount of open interest in Bitcoin futures seeing a slight decline, as the market awaits further guidance from the Fed.
Analysts believe that if Bitcoin falls below its current support level, it may test the $85,000 mark and form a double bottom pattern. However, if the current support remains firm, Bitcoin could see a rebound in the coming days. Participants in the crypto market will continue to closely monitor the Fed’s December FOMC meeting and future economic policy developments.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
GSR Debuts BESO ETF With Bitcoin, Ethereum, Solana
GSR debuts BESO ETF with active strategy, adjusting Bitcoin, Ether, and Solana allocations weekly to outperform benchmarks.
ETF records nearly $5M in first-day volume, signaling early investor interest in diversified crypto investment products.
Launch aligns with growing ETF momentum as
CryptoFrontNews2h ago
Iranian situation latest update: Control over the Strait of Hormuz is upgraded, and Bitcoin is consolidating around $77,000
On April 25, Iran once again escalated its Strait of Hormuz control measures. Bitcoin hovered around $77,500, gold was $4,709, and Brent crude was above $106. With fresh geopolitical turmoil, how will the three major assets move in tandem?
GateInstantTrends3h ago
Drivechain Architect Paul Sztorc Unveils August Bitcoin Hard Fork With 1:1 BTC Coin Split
Bitcoin developer and Drivechain architect Paul Sztorc announced a new Bitcoin hard fork called eCash, set to launch this August, giving every BTC holder an equal number of eCash coins at the time of the split.
Key Takeaways:
Paul Sztorc announced eCash, a new Bitcoin hard fork dropping in Augus
Coinpedia3h ago
Hashrate Index: Brazil and Venezuela Show Potential to Grow Latam's Bitcoin Mining Share
A new report on the state of bitcoin mining in Latam found that the region is lagging in bitcoin mining adoption, even as it holds vast energy resources. While Paraguay holds the fourth place in global hashrate, Hashrate Index picked Brazil and Venezuela as the nations to follow.
Key Takeaways:
A
Coinpedia4h ago
Michael Saylor: Bitcoin’s winter is over; institutional and sovereign adoption could fuel the next uptrend
Gate News message, April 25 — Michael Saylor, co-founder of MicroStrategy, said "winter's over" as Bitcoin climbed to approximately $78,000, signaling a shift in market sentiment.
According to analyst Mati Greenspan, recent market moves since the flash crash have been corrections within a broader bull market, with Bitcoin's bottom now in place. Greenspan believes the next leg of gains will be driven by "sovereign adoption," including central banks adding BTC alongside gold to their reserves.
Governments and institutions are increasingly incorporating Bitcoin into their holdings. The U.S. government currently holds approximately 300,000 BTC and has discussed establishing a strategic Bitcoin reserve. El Salvador continues making daily purchases, while the U.K. government and several U.S. state pension funds have added Bitcoin to their asset allocations.
GateNews5h ago
