This morning, Bitcoin saw a modest decline of 0.3%, trading around $83,700, as investors await the personal consumption expenditures (PCE) price index data. This index, favored by the Federal Reserve, is anticipated to show an increase in inflation for August.
Should the inflation figures surpass expectations, it may heighten speculation about potential interest rate hikes, which have already led to significant sell-offs in the bond market this month. In related market movements, Brent crude oil prices have surged past $103 per barrel, reflecting a 14% rise in September, despite a return of Middle Eastern crude supplies to pre-conflict levels. Meanwhile, U.S. Treasury yields stabilized after the 30-year yield reached its highest point since 2002, and the U.S. dollar remained near its strongest level since July.
Ether also recorded a decline of 0.7%, bringing its price to approximately $2,690. The HYPE token saw the most significant drop among major cryptocurrencies, falling nearly 2%, while XRP and TRX experienced slight gains of less than 1%, according to CoinDesk data.
