CoinTelegraph

Bitcoin stable as Fed's favorite inflation metric sees first monthly drop in six years

July 30, 202601:17 PM
Bitcoin stable as Fed's favorite inflation metric sees first monthly drop in six years

Bitcoin displayed resilience by holding steady around $64,500 as the Fed's preferred PCE inflation metric recorded its first monthly drop in six years, triggering a relief rally in both stock and cryptocurrency markets. The Bitcoin price stability came as tensions in South Korea's semiconductor sector eased, combining with inflation data that met annual expectations, suggesting a potential moment of calm for investors following recent periods of volatility.

Bitcoin and US stocks enjoyed a relief bounce as the South Korea semiconductor rout eased and US PCE inflation data conforms to year-on-year expectations. Bitcoin (BTC) shook off volatility on Thursday as US stocks rebounded on the back of inflation-data relief. Data from TradingView showed BTC price action focusing on $64,500, broadly unchanged from the day prior.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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