Bitcoin Holds At $29,300 As PCE Comes Out Neutral

With today’s release of the Personal Consumption Expenditure (PCE) price index by the Bureau of Economic Analysis, the Bitcoin market just experienced the most important macro event of the week. Ahead of the Federal Open Market Committee (FOMC) of the US Federal Reserve (Fed) on May 2-3, all eyes were on the PCE today.
The latter is known as the Fed’s favorite inflation gauge. (versus CPI). It measures prices paid by consumers for domestic purchases of goods and services and excludes