Bitcoin Slips Below $84,000 Before U.S. Inflation Data, Micron Results

Bitcoin (BTC) fell below $84,000 early Wednesday as traders awaited U.S. inflation data that may shape expectations for Federal Reserve interest rates.

BTC was down 0.3% at about $83,700 at 6:18 a.m. ET (10:18 a.m. UTC) on Sept. 30. The August personal consumption expenditures (PCE) price index, a key inflation gauge used by the Fed, was scheduled for release at 8:30 a.m. ET (12:30 p.m. UTC).

The July PCE index rose 3.7% from a year earlier, while core PCE, which excludes food and energy, increased 3.3%. Both measures rose 0.2% from the prior month.

Rate expectations have also remained a market focus after the 30-year Treasury yield reached 5.60% on Sept. 28. Higher borrowing costs can weigh on assets that are sensitive to interest-rate expectations.

Investors were also watching Micron Technology’s fiscal fourth-quarter results. The company scheduled its financial call for 4:30 p.m. ET (8:30 p.m. UTC) Wednesday.

Ether (ETH) was down 0.7% at about $2,690 during the market update. The August PCE data and Micron’s results were the next scheduled market events.