Cryptocurrency Market Reacts to Inflation Data and Trade Measures

Major cryptocurrencies faced a downturn this Friday, with Bitcoin notably falling below the $84,000 mark. This decline comes in response to a stronger-than-expected inflation gauge and growing concerns over recent trade announcements by US President Donald Trump.

Understanding the Inflation Gauge Impact

The core Personal Consumption Expenditures Price Index (PCE) saw a 0.4% increase in February, marking its most significant monthly rise in over a year, as reported by the U.S. Commerce Department. This figure surpassed analysts' expectations of a 0.3% increase, signaling potential economic shifts ahead.

Market Reactions and Current Prices

At 11:10 am ET, Bitcoin experienced a 3.73% drop, trading at $83,977. Shortly after, Ethereum also saw a sharp decline, plummeting 5.90% to $1,884, reflecting the market's volatile response to the latest economic indicators.