Posted 11/30/2023, 2:44:28 PM
Bitcoin Holds Gains Near $38K as Inflation Data Meets Expectations, Boosting Hopes of Future Fed Pivot
- Bitcoin price holds steady below $38,000 leading into November's final Wall Street open after fresh US inflation data
- PCE inflation metric comes in line with expectations, keeping pressure on Fed to continue tightening policy
- BTC eyes best November performance since 2020, up nearly 10% month-to-date ahead of monthly close
- Analysts debate likelihood of potential Fed pivot to rate cuts in 2023/2024
- Technical analysts highlight bullish RSI divergence on BTC charts, noting key price levels to hold monthly gains