$BTC
Tonight the PCE data is released, can it stop the decline?
The gold content that always drops during meetings has increased
The Bitcoin conference is bustling, with positive news emerging
Vance's speech, Powell and Trump's meeting, all sound significant, but none delivered concrete benefits. Therefore, the market is not convinced
Even the U.S. SEC has admitted that staking does not count as securities, and the implementation of policies is still a long way off. Now the market is eagerly waiting for the stablecoin bill to be issued quickly, but there are no clear signals for interest rate cuts, the market is stagnant, causing a lot of frustration
The U.S. inflation data is stuck and not moving
Core PCE has been fluctuating between 2.8% and 2.6% for six consecutive months.
Once this data is released, the likelihood of the Federal Reserve cutting interest rates will drop sharply!
Although some officials are still calling for rate cuts, the market is not convinced. Futures market data shows that a week ago everyone thought there was a 68% chance of a rate cut in September, but now it has been slashed to 47%, almost halved.
Is the U.S. economy about to fall into a new round of inflation?
Today, the important support level is between 104000 - 104500, if it drops into this range, some investors may buy the dip, preventing prices from continuing to fall.
The resistance level is between 107000 - 107500, if it can break through this price level, Bitcoin's price has a chance to continue moving upwards.
Stay tuned to Hashni, for real-time updates and analysis on data direction tonight