Bitcoin Recover Over Steady US PCE Inflation

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

May 31, 2024 20:08

The US PCE inflation increased 0.3% in April, in line with market expectations. On a year-over-year basis, the PCE inflation jumped 2.7%. The Bitcoin price however noted a slight recovery, despite the latest inflation data. Following the PCE inflation release, Bitcoin price soared 0.95% to $68,773.23. Notably, The inflation remaining above the Federal Reserve’s 2% target range has dulled the investors’ sentiment so far.