Bitcoin Surges Past $85,598 as U.S. PCE Data Lowers Fed Rate Hike Expectations
What happened
On September 30, 2026, Bitcoin prices surged after the release of softer-than-expected U.S. PCE data.
The Context
- Cooling inflation signals: August PCE data showed headline inflation at 3.4%, lower than the anticipated 3.7%, easing rate hike fears.
- Market response: Bitcoin briefly exceeded $85,598 as traders adjusted expectations for an October Federal Reserve rate hike from over 70% to 37%.
- ETF inflows: Spot Bitcoin ETFs experienced significant inflows, including a $2.8 billion surge in just one week, indicating strong institutional interest.
The Number
— This is the new probability of a Federal Reserve rate hike in October, down from over 70%, which could signal a more favorable environment for risk assets like Bitcoin.
Takeaway
As inflation data continues to shape market sentiment, Bitcoin's volatility may present both opportunities and risks for investors.
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