Ramazan Eles 
Bitcoin (BTC) experienced a slight dip earlier in the week, falling to around $63,400. However, it quickly rebounded and surpassed the $67,000 mark. As investors awaited further price movements, the Federal Reserve (Fed) released its closely watched Personal Consumption Expenditures (PCE) data.
The PCE index is a key inflation indicator that the Fed uses to set monetary policy. The latest data showed:
Core PCE Price Index (Year-over-Year): 2.6% (expected 2.5%, previous 2.6%)
Core PCE Price Index (Month-over-Month): 0.2% (expected 0.2%, previous 0.1%)
Personal Consumption Expenditures Price Index (Year-over-Year): 2.5% (expected 2.5%, previous 2.6%)
Personal Consumption Expenditures Price Index (Month-over-Month): 0.1% (expected 0.1%, previous 0.0%)
Interest Rate Cut Expectations Rise
The relatively benign inflation data has fueled speculation that the Fed may begin cutting interest rates as early as September. The CME FedWatch Tool currently assigns a 93.3% probability to the Fed keeping rates unchanged in July, but an 87.7% probability to a rate cut in September.
Bitcoin Reacts Positively
The prospect of easier monetary policy has been generally positive for risk assets like Bitcoin. Investors view lower interest rates as potentially boosting demand for riskier assets like cryptocurrencies. This sentiment has contributed to Bitcoin’s recent price rally.