Bitcoin price rebounds after US PCE inflation data

Investors are eagerly awaiting US PCE inflation data after the US GDP data showed better-than-expected growth in the first quarter.

PCE and core PCE inflation data are currently key indicators for tracking current inflation levels. In addition, these are also important tools that the Federal Reserve considers when formulating interest rate plans.

US PCE inflation rate soars 2.7%

The latest data released by the US Department of Commerce showed that US PCE inflation rate rose 2.7% year-on-year in April, in line with market expectations; at the same time, core PCE inflation rate excluding food and energy prices rose 2.8% year-on-year, in line with market expectations and unchanged from the previous month.

At the same time, the cryptocurrency market and the broader financial industry may be hit as inflation remains high. Notably, the latest data shows that inflationary pressures continue to affect investor sentiment.

In addition, the inflation rate remains above the central bank's 2% target range expectations, which has also suppressed investor sentiment so far. Investors are seeking clarity on the possibility of a rate cut by the Federal Reserve, as higher policy rates dampen market participants' willingness to take risks.

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