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Bitcoin Climbs Above $85,500 As PCE Inflation Cools To 3.4%
Core PCE inflation was 3.0%, below the 3.3% expectation, as Bitcoin reached its highest level since January.
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Bitcoin (BTC) climbed above $85,500 on Wednesday, reaching its highest level since January after U.S. August PCE inflation came in below expectations.
PCE inflation was 3.4%, compared with the 3.7% expectation. Core PCE, which excludes food and energy prices, came in at 3.0%, below the 3.3% expectation.
Bitcoin reached its highest level since January after the inflation figures were released.
