Wall Street is now pricing in a terminal rate of 5.25-5.50, after hot PCE data, BTC down over 3% Quick Take
- Bitcoin is down -3.31% on Feb. 24 due to a hotter than expected PCE data.ย
- Traditional assets are also down on the day, which includes SPX (-0.22%), XAUUSD (-0.75%), and Nasdaq (-2.00%).
- Wall Street is now pricing another 25 bps hike, in addition to the 50 bps remaining, due to today’s PCE.
- This would take the federal funds rate to 5.25 – 5.50% for the end of 2023, a total of 75 bps remaining.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
