Markets avoid a PCE 'shock' with BTC continuing to focus on $29,000.
Attention increasingly focused on the macro events of the week coming, these headlined by the Federal Reserve interest rate decision.
As noted by Financial commentary resource, The Kobeissi Letter, already strong odds of a further rate hike only gained momentum on the back of the PCE print. “Interestingly, odds for another 25 bps rate hike in June are building, up to 28%,” part of Twitter analysis“However, at least 2 rate cuts are expected this year. The Fed still has not said they support any rate cuts this year. Next week will be huge.”, a 0.25% rate hike was a 90% certainty at the time of writing, up 5% versus the day prior.in BTC price action, meanwhile, traders focused on the longer-term trend.
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