Wall Street Is Now Pricing in Another 25 Bps, After Hot PCE Data, BTC Down Over 3%

Bitcoin is down -3.31% on Feb. 24 due to a hotter than expected PCE data. Traditional assets are also down on the day, which includes SPX (-0.22%), XAUUSD (-0.75%), and Nasdaq (-2.00%). Wall Street is now pricing another 25 bps hike, in addition to the 50 bps remaining, due to today’s PCE. This would take the federal funds rate to 5.25 – 5.50% for the end of 2023, a total of 75 bps remaining.

Bitcoin $62,157.19

+0.74%

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