Why is crypto down today?
- Bitcoin dropped 4% on Friday as core PCE inflation data sparked marketwide sell-off.
- Core PCE in February rose to 2.8% from expectations of 2.7%.
- Top altcoins Ethereum, XRP and Solana also shed gains seen earlier in the week with both crypto and stock markets experiencing a correction.
Bitcoin (BTC) and the crypto market declined on Friday following a rise in February’s core Personal Consumption Expenditure (PCE) data — the Federal Reserve’s (Fed) preferred inflation indicator.
Crypto, stocks decline as inflation data spread fear in the market
The crypto market witnessed a correction on Friday as macroeconomic data stirred panic among investors. The United States (US) core PCE Price Index, which excludes…
