Cryptocurrencies React to U.S. Inflation Data

Bitcoin (BTC) saw a surprising surge to US$ 64,773.80 on Thursday (30), in response to softer-than-expected PCE data from the United States. The Office of Economic Analysis (BEA)'s report showed that the PCE fell by 0.1% in June, while the core measure, excluding food and energy, increased by 0.1%. This milder inflation reading has had a direct impact on crypto markets, which have benefited from reduced expectations for higher interest rates. However, the cautious stance of the Federal Reserve (Fed) continues to pressure the market, with three members voting for an increase in borrowing costs.

According to Vault Capital, Bitcoin is operating within the range between US$ 64,259 and US$ 65,571, with resistance above that level. Marco Aurélio de Camargos, CIO of the firm, notes that the lack of clear signals from Fed Chairman Kevin Warsh means every new economic data point carries significant weight in the market. Ethereum (ETH) and BNB also saw gains, while XRP remained stable.

Source: Valor Econômico