Key facts
- Bitcoin traded just above $80,000 after September PCE data met expectations.
- The PCE index increased 3.6% year-over-year and 0.5% month-over-month.
- The yearly PCE inflation rate was higher than August's 3.4%.
Bitcoin saw a modest rise, trading just above $80,000, after the U.S. Bureau of Economic Analysis reported that September's Personal Consumption Expenditures (PCE) price index rose 3.6% year-over-year and 0.5% month-over-month, in line with expectations. This figure was slightly higher than August's 3.4% annual increase. The Federal Reserve recently maintained its interest rates at the October FOMC meeting, acknowledging persistent inflation. The odds of a December rate hike have slightly decreased, with Polymarket data indicating a 78% chance of a 25 basis point increase.