Last week, Bitcoin (BTC) renewed its all-time high, surpassing $111,000, but soon fell to $105,000 due to profit-taking.
Bitcoin Achieves New ATH
Bitcoin reached a new all-time high at $111,000 amidst increased interest and trading volumes. However, shortly after, a sharp price drop occurred due to profit-taking by traders.
Bitcoin's Reaction to Trump's Statements
The sudden decline followed US President Donald Trump's statement that China had completely violated agreements between the two countries. These remarks put pressure on the cryptocurrency market, which also reflected on altcoins.
PCE Data and Its Impact on the Market
In addition to Trump's statements, data on personal consumption expenditures (PCE) were published, which the FED closely follows for interest rate decisions. The key PCE figures for April are as follows:
- Core Personal Consumption Expenditure Price Index (YoY): 2.5% (expected 2.5%, previous 2.6%) - Core Personal Consumption Expenditure Price Index (Monthly): 0.1% (expected 0.1%, previous 0.0%) - Personal Consumption Expenditure Price Index (Annual): 2.1% (expected 2.2%, previous 2.3%) - Personal Consumption Expenditure Price Index (Monthly): 0.1% (expected 0.1%, previous 0.0%)
Thus, Bitcoin remains under pressure from both internal and external factors. Statements from politicians and macroeconomic data significantly influence its price, making the cryptocurrency market highly volatile.
