Current Bitcoin Analysis: Key Data and Analyst Comments.

At 2.6% annually, core PCE reflected the lowest value since March 2021. While PCE data was expected to be lower, popular investor Skew wrote in a response on X that personal income was slightly higher than expected but personal spending was slowing down and described the figures as quite good. A Prize Pool Worth 21 Million TL is Awaiting You from BinanceTR! Participating and winning has never been easier. Sign up to BinanceTR from this link and get your first crypto!

While Bitcoin and altcoins barely moved on the PCE, Skew noted that the decline in retail clothing sales, along with a 17% drop in the shares of clothing giant Nike, could potentially be a factor of volatility in the future and shared the following statements: $“The US market will still be focused on the September rate cut and pricing under #Trump and how that will look/impact industries.”

Market sentiment continues to be that the Federal Reserve will lower interest rates at the Federal Open Market Committee (FOMC) meeting in September; This will be a significant liquidity event for risk assets and cryptocurrencies. The latest data from CME Group's FedWatch Tool reveals that the probability of a rate cut for the day is approximately 68%.

Turning to Bitcoin, investors saw little change in conditions with BTC/USD trending sideways above the $60,000 level. Popular investor and analyst Rekt Capital
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