Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Bitcoin consolidated above $61,000, lacking a clear directional bias before the release of the Fed's preferred inflation gauge
, the core Personal Consumption Expenditures . Economists expect the PCE to show the annualized inflation rate slowed to 2.6% in May from 2.8%, according to Bloomberg. While that would be the lowest reading in over two years, it is still above the Fed's 2% goal."A lower-than-expected figure would suggest a continued inflation decline and potentially boost cryptocurrencies in the coming months," Valentin Fournier, digital assets analyst at advisory firm brn, said.
A score of 100 represents peak popularity – the maximum number of searches observed for the query during a given time frame. The tool may be a good indicator to watch as the masses are often driven by emotions and frequently the last to enter a bull market and exit a bear market. In other words, NVDA and other AI-related assets might have peaked for the time being.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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