Bitcoin's Spike to $85,600 Fades After Cooler Inflation Data Collides With 20-Year-High Treasury Yields

Sentiment 55/100 (Cautious)

S. Federal Reserve's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) index, came in cooler than Wall Street expected. 3%, and the softer print initially sent traders racing to price out further Fed rate hikes: odds of an October hike fell from roughly 70% earlier in the week to below 50% by the afternoon, based on CME FedWatch pricing.