The crypto market is currently under pressure from the sale, the majority of cryptographic assets, investors consider it newly Published economic data This gives an overview of the health of the American economy, in particular, the price of personal consumer expenditure for March, the favorite inflation gauge of the federal reserve.
Consumer spending increased 0.7% last month after taking inflation into account, according to the Bureau of Economic Analysis Statistics published on Wednesday. Meanwhile, the privileged inflation index of the federal reserve, the price of personal consumer expenditure index, remained unchanged a month ago for the first time in almost a year. Excluding food and energy, the basic PCE has remained stable, the lowest in almost five years.
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The report earlier Wednesday also revealed that the basic inflation of the PCE increased to 3.5% in the first quarter, most of them in one year. Wednesday's report made it possible to comfort the inflation front. A measure of the inflation of goods that excludes food and energy fell for the first time this year. Basic services prices – a very supervised category that excludes housing and energy – have barely been changed, the same as the lowest since 2020.
The cryptography market remains down
The cryptography market has remained lower, several cryptographic assets negotiating in red, with an increase in bitcoin greater than $ 95,000 inverted. The economic data that has become worse than expected have triggered a feeling of risk on the financial markets, which led to $ 370 million in liquidations on the cryptography market, as investors have reassessed their exposure to risk assets.
This coincides with a significant decrease in American shares, with the Nasdaq down 2% and the S&P 500 down 1.5%. Bitcoin (BTC) slipped approximately 2% to $ 94,300.
Ethereum (ETH) fell 3.73% and most cryptocurrencies followed suit. Cardano (ADA) and XRP fell by more than 5%, while Solana (soil) fell by almost 4%. The drop in the market has seen the overall market capitalization of cryptography fall below 3 dollars of dollars, to 2.91 billions of dollars.
