Investors await the Fed's decision: US interest rates may remain high, which has led to lower prices for Bitcoin and other cryptocurrencies.
Chairman Jerome Powell previously hinted at three interest rate cuts. However, this year the interest rate decline may be smaller. The latest PCE data points to continued inflationary pressures.
GDP growth of 1.6% in the first quarter showed stagflation. The forecast market is predicting only one Fed rate cut this year, which is largely negative for cryptocurrency prices.
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