Claim BonusUS PCE: Bitcoin, Ethereum Retrace Ahead Of Inflation Data; Wall Street Estimates
The U.S. Bureau of Economic Analysis to announce the personal consumption expenditures (PCE) inflation data for September today. The annual PCE inflation is expected at 3.4%, after an increase to 3.5% last month. The Federal Reserve’s preferred gauge to measure inflation core PCE is expected at 3.7%, falling from 3.9% last month. However, on a monthly basis, core PCE is expected to accelerate to 0.3% from 0.1%.
Recently, Fed Chair Jerome Powell stated the Fed is proceeding carefully and further tightening of monetary policy depends upon incoming data. Powell stressed on tight labor market but agreed on inflation slowly cooling towards its 2% goal. The Fed kept interest rates unchanged last month at 5.25%-5.50%.
Wall Street estimates are mostly in line with market consensus in response to the impact on energy prices due to the Israel-Hamas conflict. The markets will remain volatile as traders access mixed earnings results and strong US GDP growth of 4.9%.
US stock futures rose on Friday after the market sold off for two straight sessions. Oil price is expected to fall due to easing concerns about the Middle East conflict. Moreover, the U.S. Dollar Index (DXY) fell to 106.56.
Also Read: Ethereum Developers Delay the Security Enhancing Dencun Hardfork, Here’s Why
Retracement In Bitcoin and Other Crypto Ahead US PCE
Bitcoin and Ethereum retrace as traders book profits in response to Friday’s expiry and the key PCE inflation data. BTC price fell nearly 2% in the past 24 hours amid low trading volumes. The 24-hour low and high are $33,762 and $34,774, respectively.
Whereas, ETH price fell below the $1,800 level, with the price trading at $1,793. The 24-hour low and high are $1764 and $1865, respectively.
However, meme coins are moving the markets after the Bitcoin ETF hype. After Pepe Coin’s rally in the last 2 days, FLOKI price jumped over 22% in the last 24 hours.
Also Read: BTC Open Positions Spike Up Ahead of the Bitcoin Options Expiry
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Ethereum Staking Hits Record Highs as BitMine Continues to Stake ETH
- Crypto Bill News: U.S Senate Postpones Thursday’s Markup as Coinbase Pulls Support
- U.S. SEC Ends Zcash Foundation Probe as Dubai Tightens Rules on Privacy Tokens
- Sui Network Suffers Outage as Mainnet Stalls; SUI Price Flat
- Crypto ETF News: Bitwise Launches Chainlink ETF as Institutional Inflows Return
- Bitcoin Price Forecast: How the Supreme Court Tariff Decision Could Affect BTC Price
- Ethereum Price Prediction as Network Activity Hits ATH Ahead of CLARITY Markup
- Robinhood Stock Price Prediction: What’s Potential for HOOD in 2026??
- Cardano Price Prediction as Germany’s DZ Bank Gets MiCAR Approval for Cardano Trading
- Meme Coins Price Prediction: What’s Next for Pepe Coin, Dogecoin, and Shiba Inu Amid Market Rally?
- Standard Chartered Predicts Ethereum Price could reach $40,000 by 2030
