Bitcoin Slides to $73,300 as April PCE Inflation Hits 3.8% Year-Over-Year
April's Personal Consumption Expenditures (PCE) inflation rate matched the anticipated 3.8% year-over-year increase, marking the highest level since May 2023. According to NS3.AI, this inflation data coincided with Bitcoin's decline toward $73,300. The Core PCE, which excludes food and energy prices, rose by 3.3% year over year. On a monthly basis, the core reading was 0.2%, falling short of the 0.3% estimate. CME FedWatch data indicated a 98.9% probability that the Federal Reserve will maintain interest rates between 3.50% and 3.75% on June 17.