Bitcoin, Ethereum, XRP tumble on shocking inflation report

Bitcoin, Ethereum, XRP tumble on shocking inflation report originally appeared on TheStreet.

The personal consumption expenditures (PCE) price index rose 0.3% on a monthly basis and 2.6% on a year-to-year (YoY) basis in June.

Core PCE, which excludes volatile food and energy prices, in June was up 0.3% on a monthly basis and 2.8% on an annual basis.

The crypto market immediately dipped in reaction to the news.

Bitcoin fell 0.11% in an hour to $118,327.92, Ethereum fell 0.75% to $3,815.08, and XRP fell 0.81% to $3.11.

BNB fell 0.56% to $795.14 and SOL also fell 1.25% to $177.94.

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The Bureau of Economic Analysis defines the PCE price index as a key inflation indicator that measures the prices that people living in the U.S., or those buying on their behalf, pay for goods and services. The index is known for capturing inflation across a wide range of consumer expenses and reflecting changes in consumer behavior.

The Federal Reserve decided to keep the interest rates unchanged at 5.25%-5.5% at its July 30 meeting, and Chair Powell didn't indicate any potential cut in interest rates in September, saying the central bank will factor in more data and information until it makes the rate decision in the next Sep. 16-17 meeting.

Since PCE is one of the most closely watched inflation indicators by the Fed, the June hike seems to have dented any hope for a potential cut in interest rates in September.

The total crypto market cap stood at $3.88 trillion at the time of writing.

Bitcoin, Ethereum, XRP tumble on shocking inflation report first appeared on TheStreet on Jul 31, 2025

This story was originally reported by TheStreet on Jul 31, 2025, where it first appeared.

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