Bitcoin, crypto market slide as Trump resumes China tariff rhetorics amid in-line PCE data
- The US core PCE data for April fell to 2.5%, in line with expectations, while the annual PCE rate came in at 2.1%, below expectations of 2.2%.
- Trump says China violated its trade agreement with the US.
- Bitcoin and Ethereum are down 1% and 2.5%, respectively, over the past 24 hours amid uncertainty in the macroeconomic outlook.
Bitcoin (BTC) and Ethereum (ETH) dropped 1% and 2.5%, respectively, on Friday following President Donald Trump’s statement that China violated its trade agreement with the United States (US). This comes amid the release of the US Personal Consumption Expenditure (PCE) data, which came in line with expectations.
