Bitcoin holds just under $24k – DXY breaks 105 for the second time this year as PCE comes in hotter than expected

Published on February 24, 2023 by James Van Straten

Bitcoin holds steady as PCE data comes in hotter than expected. While 30% chance of a 50 bps rate hike from the fed.

Quick Take

Feb. 24 saw an influx of macro data, which includes the PCE index, personal income, and consumer spending.
PCE data came in hotter than expected.

Headline y/y 5.4% vs. 5%

Core y/y 4.7% vs. 4.3%

Headline m/m 0.6% vs. 0.5%

Core m/m 0.6% vs. 0.4%

Consumer spending 1.8% vs. 1.4%

Personal income 0.6% vs. 1%

Bitcoin went down to $23.7K on initial news — while the DXY broke 105

BTCUSD: (Source: TradingView)

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Author: James Van Straten

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