Bitcoin remains stable at around $29,000 despite fears of a potential market shock following the release of the US Personal Consumption Expenditures (PCE) data. The higher-than-expected inflation rate fueled concerns that the Fed may need to hike interest rates to curb inflation. However, Bitcoin has shown resilience to macroeconomic events in recent times. While a potential Fed rate hike could impact the cryptocurrency market in the long run, Bitcoin continues to hold firm for now. Investors should stay informed of macroeconomic events to make informed investment decisions.
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