Bitcoin nears $27K despite ‘hot’ PCE data sparking June rate hike bets

Source: TradingViewBitcoin shrugs off new U.S. inflation woesData from Cointelegraph Markets Pro and TradingView revealed BTC/USD nearing $27,000 on Bitstamp.The set increased unexpectedly after the days Personal Consumption Expenditures (PCE) information showed its first rises considering that October 2022. Source: CME GroupFinancial commentor Tedtalksmacro, on the other hand, acknowledged that the PCE gains were relative. Source: Michaël van de Poppe/TwitterHe warned that PCE was “not a great sign” for danger properties, noting the knee-jerk reaction for United States dollar strength– typically inversely correlated with crypto.The U.S. Dollar Index (DXY) hit 104.4 on the day, its highest levels because March 17.

Source: TradingViewBitcoin shrugs off new U.S. inflation woesData from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $27,000 on Bitstamp.The pair increased all of a sudden after the days Personal Consumption Expenditures (PCE) data revealed its first increases given that October 2022. Source: CME GroupFinancial commentor Tedtalksmacro, on the other hand, acknowledged that the PCE gains were relative. Source: Michaël van de Poppe/TwitterHe warned that PCE was “not an excellent indication” for danger assets, noting the knee-jerk reaction for United States dollar strength– traditionally inversely associated with crypto.The U.S. Dollar Index (DXY) struck 104.4 on the day, its highest levels given that March 17.