Bitcoin climbed above $85,000 after the US August PCE inflation reading came in cooler than expected, at 3.4% against a 3.7% forecast. Core PCE also missed forecasts, falling to 3.0%, and the softer data pushed bitcoin to its highest level since late January.
Bitcoin climbed above $85,000 after the US August Personal Consumption Expenditures (PCE) index showed headline inflation cooling to 3.4%, below the 3.7% consensus forecast.
Core PCE, which strips out food and energy costs, fell to 3.0% against a 3.3% forecast.
Cooler inflation data supported the rally, pushing bitcoin to its highest level since late January.
Source: Crypto Briefing
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