PCE Drops a Snoozefest at 3.0%, Bitcoin Yawns and Holds $70K

Bitcoin reclaimed the $70,000 level as US-Iran tensions eased into a two-week ceasefire. The month-long geopolitical standoff had pushed oil prices higher, sparking inflation concerns. The March FOMC minutes revealed the Fed is keeping all options on the table - rate hikes or cuts, depending on how the war plays out.

The February Personal Consumption Expenditures data - the Fed's favorite inflation gauge - dropped exactly as expected. Core PCE Annual came in at 3.0% (expected 3.0%, previous 3.1%). Core PCE Monthly held at 0.4% (expected 0.4%, previous 0.4%). Headline PCE Annual sat at 2.8% (expected 2.8%, previous 2.8%). PCE Monthly ticked up slightly to 0.4% from 0.3%.

Markets monitored Bitcoin's initial reaction. Nothing to see here - just another PCE print landing right on consensus.

*This is not investment advice.