$BTC U.S. inflation continues to cool as August PCE came in at 3.4% and core PCE reached 3% (below expectations). This signal significantly alleviates pressure for policy tightening, while Fed officials also indicated a desire to wait for more data, making the likelihood of an interest rate hike in October markedly lower.
Amid a more favorable macroeconomic backdrop, institutional capital has immediately flowed strongly into the crypto market. Just last week, funds attracted approximately $3.55 billion, with the majority—$2.52 billion—going to Bitcoin. Coupled with this bullish momentum, Citi Bank has just raised its 12-month BTC price forecast from $82,000 to a substantial $113,000.
The market has reacted almost euphorically to this news, with Bitcoin prices surging sharply throughout yesterday’s session and this morning.
