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Key Takeaways
- Bitcoin lost $85,000 after its initial inflation rally.
- Core inflation matched July’s revised annual rate.
- The four-hour 50 SMA remains the first hurdle.
The August personal consumption expenditures report arrived on September 30 around 12:30 UTC. Bitcoin briefly climbed above $85,000, then slipped back below $84,000, according to CoinDesk’s intraday coverage. The initial buying was not enough to sustain the move.
Softer inflation eased rate fears, but did not settle them
Core PCE, which excludes food and energy, rose 0.2% in August and 3.0% from a year earlier. The annual figure was below the 3.3% forecast reported by The Wall Street Journal. Headline inflation, including food and energy, came in at 0.3% for the month and 3.4% annually....
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