The American Economic Pressures Affect Bitcoin's Outlook

The United States is experiencing an economic contraction after a long period, posing a challenge to Federal Reserve strategies. This development raises important questions for cryptocurrency enthusiasts as they navigate the volatile financial landscape. This week, the release of U.S. Personal Consumption Expenditures (PCE) figures will attract significant attention amid market uncertainty. What is driving the decline in Bitcoin?

The recent decline in Bitcoin is attributed to troubling U.S. economic indicators and statements from Donald Trump, who described current conditions as the "Biden Market." With a downward trend reflected in employment data and negative growth figures, the suffering of the stock market mirrors these pressures. Core Personal Consumption Expenditures data, expected at 2.6%, reflects last month's rate of 2.8%. How do Personal Consumption Expenditures figures affect the market?

PCE data came in largely aligned with elevated expectations, registering an annual increase of 2.3%, while the core PCE index remained in line with expectations at 2.6%.

- U.S. Core Personal Consumption Expenditures Price Index Monthly: 0.0% (expected 0.1%, previous 0.4%)

- U.S. Personal Consumption Expenditures Price Index Monthly: 0.0% (expected 0.0%, previous 0.3%)