U.S. PCE Inflation Rises to 3-Year High, Bitcoin Slides

U.S. PCE inflation unexpectedly rose to a three-year high in March (3.5% YoY, 0.7% MoM), with core PCE at 3.2% YoY (0.3% MoM). The data and Middle East supply concerns (Brent crude above $120/bbl) pushed traders to price in fewer Fed rate cuts this year, and Bitcoin extended its decline—sliding toward the mid-$70k area (around $76,000–$76,400). Polymarket shows a 58% probability of zero rate cuts in 2026, reinforcing a tighter-rate outlook that is bearish for risk assets including crypto. The piece links higher inflation, oil-driven geopolitical risk, and the Fed’s decision to hold rates with the near-term downside pressure on BTC and the broader crypto market.