Bitcoin Rally as US PCE Cools to 2.4%, Fed Rate Cuts in June

The U.S. Bureau of Economic Analysis announced the U.S. Federal Reserve’s (Fed) preferred inflation gauge PCE data for January. The PCE in the US went up 0.3% month-over-month in January, the most in four months, following a 0.2% rise in December. Also, the monthly core PCE index, which excludes food and energy, rise to 0.4%, the biggest increase since February last year.