Bitcoin Lower Today

The world’s most famous cryptocurrency was trading lower at 10:45 a.m. Los Angeles time on Friday as investors tried to digest news that the U.S. personal consumption expenditures price index increased last month by 2.8 percent — excluding food and enegery. 

Economists were anticipating a 2.7 percent rise, CNBC reported. The Federal Reserve uses the data in its decision making for potential future rate cuts.

Bitcoin is down about 8.6 percent in the last month.

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