Bitcoin Holds at $78,000 After US PCE Surprise; SPX6900 and VeChain Lead Altcoin Rallies

BitcoinWorld Bitcoin Holds at $78,000 After US PCE Surprise; SPX6900 and VeChain Lead Altcoin Rallies Bitcoin traded near $78,000 on Friday, holding steady after the release of the latest US Personal Consumption Expenditures (PCE) price index, which came in above market expectations.

Meanwhile, altcoins SPX6900 and VeChain posted notable gains, leading a mixed session across the cryptocurrency market.

Market Reaction to PCE Data The PCE report, the Federal Reserve’s preferred inflation gauge, showed a month-over-month increase of 0.3% for March, exceeding the 0.2% forecast. On a year-over-year basis, core PCE rose 2.8%, also slightly above consensus.

The data reinforces the likelihood that the Fed will maintain its current interest rate stance in the near term, a scenario that has historically supported risk assets like cryptocurrencies.