XRP Stumbles Below Key 200-Day Metric as Bitcoin Slips to $105K—All Eyes on PCE Data

Crypto markets wobble as XRP loses critical technical support and Bitcoin dips to $105,000—traders hold their breath for the Fed’s favorite inflation gauge.

Another day, another ’macro-driven’ price swing. Wall Street’s economic tea leaves now dictate crypto volatility—who needs fundamentals when you’ve got central bank whispers?

Prices for BTC, the premier digital asset by market value, briefly fell below $105,000 during European hours, extending overnight losses to trade nearly 3% lower on a 24-hour basis.

BTC’s losses followed a $358 million net outflow from the 11 spot Bitcoin exchange-traded funds (ETFs) Thursday, their first since May 13 and highest single-day tally since March 11, according to data source SoSoValue. Renewed trade war fears also weighed over the sentiment.

Other majors, such as ETH, SOL, and DOGE, posted larger losses, with smaller tokens like OP, ARB, BONK, and Pepe falling by over 10% each, according to data source Coingecko.

Consumer prices, represented by the personal consumption expenditure index, ROSE 0.15% on a monthly basis in April, bringing the annual inflation rate down to 2.2% from 2.3% in March, according to economists surveyed by FactSet.

The CORE PCE, the Fed’s preferred inflation measure, which excludes volatile food and energy prices, is forecast to have risen 0.12% on a monthly basis and 2.5% on an annual basis.

Another good month for inflation could raise Fed rate cut bets, boding well for BTC and other assets.

"All eyes now turn to the Core PCE data due today, which could reignite bullish sentiment if inflation shows signs of easing," Valentin Fournier, Lead Research Analyst at BRN, said in an email.