Bitcoin Price Before the Core PCE at 14:30 CEST: Will the $82,735 Level Hold?

At 8:30 am Eastern time today the US statistics office publishes the figure that will shape October on the crypto markets more than any analyst opinion: the core PCE deflator for August. Bitcoin trades at $83,329, or €73,513, at this moment, just 0.71 percent above its 24-hour low. That is the narrowest gap to a confirmed support level since the weekend, and it runs into a release that has a track record of moving prices by whole percentage points.

The short answer to what today means for you: anyone holding bitcoin in their own wallet with no intention of selling needs to do nothing at all. Anyone holding a leveraged long has until 14:30 CEST to keep their liquidation price clear of the $82,735 level. And anyone who was going to sell anyway should check the purchase date first, because in Germany the one-year holding period decides whether the entire gain is tax free.

Core PCE: The Inflation Gauge the Fed Anchors Its Rate Decision To

The Personal Consumption Expenditures Price Index, or PCE, measures the change in prices of the goods and services that US households actually consume. The core rate, the core PCE, strips out food and energy, because those prices swing sharply and mask the underlying trend.