Attention! Attention! Attention!
Tonight at 8:30, the monthly core PCE price index data will be released!
The US core PCE price index has dropped from 4.6% to 2.8% in the past year, but this 2.8% data has been maintained for 4 months. The expected value this time has dropped to 2.6%. If the expected value is small (or consistent) once the value is released, it will be an important boost for Bitcoin to take off in July or even take off earlier. If the data is unsatisfactory, remains unchanged or even rises, Bitcoin will hit 58,000 again.
The core PCE price index is a key indicator for measuring US private consumption inflation. The Federal Reserve has set the core PCE annual rate of increase of 2% as the long-term inflation target. (See the introduction) If the core PCE annual rate increases by more than 2%, the Federal Reserve will tighten monetary policy, which is beneficial to the US dollar.
