Bitcoin’s 200-Day Moving Average: A Dramatic Fall from Grace! đŸ˜±

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So, here we are again, folks. One little number comes out, and suddenly, the whole market’s in a tizzy. This time, it’s the inflation report that’s got Bitcoin doing the limbo under the 200-day moving average. I mean, come on! Can we get a break? đŸ€Šâ€â™‚ïž

Bitcoin, that lovable digital currency, is now struggling like a contestant on a reality show trying to stay relevant. It’s like, “Hey, I thought we were past this!” But no, the latest Personal Consumption Expenditures (PCE) data drops, and it’s like a bucket of cold water on a hot date. 💩

What’s next? Who knows! It all hinges on whether inflation decides to take a chill pill or if the markets are just jumping the gun, thinking they’ve won the lottery when they’ve really just found a penny. đŸ€‘

Now, the February PCE index came in right on the money at 2.5%. But wait! The Core PCE, which is like the fancy cousin who doesn’t eat carbs, crept up to 2.8%. Just a smidge above the forecasted 2.7%. What a surprise! 🙄

Is it over?

The Federal Reserve has been clear as mud about what matters: PCE is the golden child of inflation metrics. Unlike the Consumer Price Index (CPI), which is like that friend who only eats pizza, PCE adjusts based on what people are actually buying. Spoiler alert: it’s not just avocado toast. đŸ„‘

With inflation still playing hard to get and revisions suggesting it’s not going anywhere, the hopes for a friendly Fed are fading faster than my enthusiasm for a Monday morning. And guess who’s taking the hit first? Yep, you guessed it—Bitcoin! 🎱

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2025-03-28 18:12