FED’s Preliminary Inflation Data Announced, Bitcoin (BTC) Soared!
Bitcoin and altcoins experienced sharp declines following FED Chairman Jerome Powell’s hawkish statements. While BTC fell below $93,000 in this process, data on Personal Consumption Expenditures (PCE), which the FED closely follows when making interest rate decisions and is considered a leading inflation indicator, was announced today. Accordingly, personal consumption expenditures data for November were…