The American economic pressures affect Bitcoin's outlook

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

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

The Personal Consumption Expenditure data came in largely in line with high expectations, recording an annual increase of 2.3%, while the core Personal Consumption Expenditure 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%)