Suche
Mein Konto
Bitcoin on the rise: Institutional investors rely on PCE data!
Important economic data and inflation expectations influence Bitcoin price; Investors eye PCE report and institutional interest.
Bitcoin on the rise: Institutional investors rely on PCE data!
This week there is significant economic data on the agenda that has the potential to significantly influence the price development of Bitcoin (BTC). On March 28, the Personal Consumption Expenditures (PCE) report will be released, which measures inflation in the prices of goods and services in the United States. Loud Cointelegraph This report could play a crucial role as the “next key catalyst” for Bitcoin and other risky assets.
The Bitcoin price recently increased by almost three percent to $109,048. This positive development could be driven by ongoing US creditworthiness concerns and growing institutional interest in Bitcoin spot ETFs. At the same time, investors are looking forward to the final results of consumer surveys from the University of Michigan BTC Echo reported.
PCE report as a significant factor
The PCE report is viewed as a key driver of market development by QCP Group, a Singapore-based digital asset firm. The group expects this report to help ease inflation-related concerns and could potentially lead to a rise in Bitcoin in April. Historically, the month of April for Bitcoin had an average monthly return of over 12.9%, making it the fourth best month in price performance.
While some analysts, including Nansen's Nicolai Sondergaard, identify global trade war fears as the biggest obstacle to investor interest, others point to the possibility that statements from Donald Trump about possible exemptions or reductions in trade tariffs could have a positive impact on risky assets.
Bitcoin forecasts
Forecasts suggest Bitcoin could rise to a record high of $110,000 before falling back to $76,500, BitMEX co-founder Arthur Hayes estimates. These potential swings could depend on the Federal Reserve's decision to ease monetary tightening and thus increase liquidity in the market.
Market volatility remains a potential risk, but overall momentum and support from institutional investment could help overcome these challenges. According to analyst Juan Pellicer of IntoTheBlock, Bitcoin is already showing signs of recovery, supported by strong investor interest.