The encryption market is currently suffering from the pressure pressure, as most of the encryption assets decrease, taking into account the new investors. Economic data issued This provides an insight into the health of the American economy, in particular, the Personal Consumption Expenditure Expenses Index, the preferred inflation scale of the Federal Reserve.
Consumer spending increased by 0.7 % last month after being inflation, according to the statistics of the Economic Analysis Office issued on Wednesday. Meanwhile, the Federal Reserve’s favorite inflation index, the Personal Consumption Expenditure Index, has been unchanged for the first time in nearly a year. Except for food and energy, the main PCE shadow is constant, which is the lowest five years.
The report also revealed earlier on Wednesday that the basic inflation PCE rose to 3.5 % in the first quarter, which is the most in the year. Wednesday’s report submitted some rest on the inflation front. The enlarged goods scale that excludes food and energy first decreased this year. The prices of basic services – a tall monitoring category that excludes housing and energy – has rarely changed since 2020.
The encryption market is still low
The encryption market remains less, as many encryption assets are traded in red, with Bitcoin rising above $ 95,000. The economic data that came worse than expected, led to a feeling of risks across the financial markets, which led to 370 million dollars of liquidation in the encryption market, where investors reassessed their exposure to risk assets.
This coincides with a significant decrease in American stocks, with a 2 % decrease in Nasdak and S&P 500 below 1.5 %. Bitcoin (BTC) slides about 2 % to 94,300 dollars.
ETHEREUM (ETH) decreased 3.73 %, and most cryptocurrencies followed. Cardano (ADA) and XRP decreased more than 5 %, while Solana (SOL) decreased by approximately 4 %. The market decrease in the total market witnessed a decrease in the market value to less than 3 trillion dollars, to 2.91 trillion dollars.
