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Bitcoin, Ethereum and XRP slide following a jump in core PCE inflation


Published on 2025-03-28 18:41:12 - FXStreet
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  • The crypto market witnessed a correction on Friday as macroeconomic data stirred panic among investors. The United States (US) core PCE Price Index, which excludes volatile food and energy prices, rose 2.8% YoY in February, above market expectations of 2.7%.

The article from FXStreet discusses the recent performance of major cryptocurrencies like Bitcoin, Ethereum, and XRP, which experienced a decline following a higher-than-expected increase in the US Core Personal Consumption Expenditures (PCE) Price Index. The Core PCE, which is the Federal Reserve's preferred measure of inflation, rose by 0.4% month-over-month and 2.8% year-over-year in February, surpassing market expectations. This uptick in inflation data led to a sell-off in cryptocurrencies, with Bitcoin dropping to around $69,000, Ethereum falling below $3,500, and XRP also seeing a decrease. The article suggests that this reaction was due to fears that persistent high inflation might lead the Federal Reserve to maintain or even increase interest rates, negatively impacting risk assets like cryptocurrencies. Additionally, the market's anticipation of the Federal Reserve's next moves, particularly in light of upcoming economic data releases, adds to the volatility in crypto prices.

Read the Full FXStreet Article at:
[ https://www.fxstreet.com/cryptocurrencies/news/bitcoin-ethereum-and-xrp-slide-following-a-jump-in-core-pce-inflation-202503282100 ]