uick Take
- Bitcoin is down -3.31% on Feb. 24 due to a hotter than expected PCE data.
- Traditional assets are also down on the day, which includes SPX (-0.22%), XAUUSD (-0.75%), and Nasdaq (-2.00%).
- Wall Street is now pricing another 25 bps hike, in addition to the 50 bps remaining, due to today’s PCE.
- This would take the federal funds rate to 5.25 – 5.50% for the end of 2023, a total of 75 bps remaining.
Original article: https://cryptoslate.com/insights/wall-street-is-now-pricing-in-another-25bps-after-hot-pce-data-btc-breaks-below-23k/
