Goldman Sachs analyst's surprising response to inflation data causes Bitcoin to slip.

From Yahoo Finance: 2025-06-27 13:58:00

Goldman Sachs analyst responds surprisingly to inflation data, causing Bitcoin to slip. US Core PCE Price Index rises to 2.7% in May, surpassing expectations. Dollar weakens, sparking interest among crypto traders. Bitcoin trades between $106,730 and $106,955 post-news, hitting a high of $107,973.65.

Despite strong volume, the response to Bitcoin’s movement is mixed. US dollar index declines, correlating with higher risk asset prices. Personal income falls 0.4%, expenditures drop 0.1%, signaling consumer strain. Goldman Sachs analyst reassures dollar’s reserve currency status.

Chief FX Strategist at Goldman Sachs highlights skewed post-COVID inflation measures. CPI and PCE previously over-measured inflation, now underestimating it. As dollar weakens, global demand for alternative stores of value may increase. Crypto market at $3.27 trillion, attracting inflation-seekers amid macro volatility.

Read more: Goldman Sachs analyst has a surprising response to inflation data