Wall Street is now pricing in a terminal rate of 5.25-5.50, after hot PCE data, BTC down over 3%

Wall Street is now pricing in another 25 bps hike, in addition to the 50 BPS remaining, taking fed funds rate to 5.25-5.50

James Van Straten
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James Van Straten
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Quick Take

  • Bitcoin is down -3.31% on Feb. 24 due to a hotter than expected PCE data. 
  • 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.
Fund Funds probability: (Source: CME Fed Watch Tool)
Fund Funds probability: (Source: CME Fed Watch Tool)
Assets: (tradingView)
Assets: (tradingView)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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