TradingKey - Bitcoin failed to break through $90,000 again. Tonight's PCE data from the U.S. is crucial.
On Friday, the trade war escalated, triggering increased market panic. Bitcoin (BTC) dropped nearly 2%, falling to $85,762. Earlier this week, Bitcoin's attempt to break through the $90,000 level failed, setting off a downward trend. The daily chart now shows a bearish pattern forming.
Bitcoin Price Chart, Source: TradingView.
Recent developments show President Trump maintaining a tough stance on tariffs. He announced a 25% tariff on all non-U.S.- manufactured vehicle and issued warnings toCanada and the EU about potential retaliatory actions. This has further dampened market sentiment. All eyes are now on the U.S. PCE inflation data, scheduled to release at 8:30 PM.
The market expects headline PCE inflation to hold steady at 2.5%, while Core PCE is forecast to rise to 2.7%, up from 2.6%. If the data comes in strong, it could delay expectations for Federal Reserve rate cuts, potentially placing additional pressure on Bitcoin and pushing it below $80,000. Conversely, weaker-than-expected data could improve Bitcoin's rebound prospects by reviving hopes for monetary easing.
Related Articles
RBA Interest Rate Decision Commentary: Hitting Pause, But the Easing Cycle Isn't Over – Where Next for the AUD?
On 1 April 2025, the Reserve Bank of Australia (RBA) announced its latest interest rate decision. In line with widespread market expectations, the central bank kept its policy rate steady at 4.1%.
That V-Shaped Reversal? Blame This Overlooked Indicator
Yesterday，due to concerns about tariff policies, panic continued to spread in the U.S. stock market before the market opened.With the release of Chicago PMI data, US stocks rebounded across the board. The ISM manufacturing PMI will be released tonight. Will the market continue to rise?
2025 S&P 500 Forecasts on Wall Street: Why Are Analysts Divided?
TradingKey - Wall Street's forecasts for the S&P 500 index in 2025 show a rare split: the lowest target from Stifel stands at 5,500 points, while Oppenheimer's highest target is 7,100 points, marking a significant 20% disparity. This is the biggest difference in annual outlooks among investment bank
Ray Dalio’s Warning on “Unsustainable” US Debt: What Investors Need to Know
Tradingkey - So far in 2025, it has been a roller coaster ride for investors. The rally in US stock markets post-President Trump’s election quickly fizzled out as markets realised he was serious about imposing punitive tariffs on both allies and strategic competitors.
