Bitcoin slips below $78,000 as higher US PCE data weighs on markets

Bitcoin remained below the $80,000 level after July data for the US Personal Consumption Expenditures (PCE) inflation measure came in slightly above expectations. The stronger-than-anticipated reading put pressure on risk assets, with stocks and gold also moving lower, according to Cointelegraph. Bitcoin dipped below $78,000 as traders assessed the inflation data and its effect across financial markets. The move kept the cryptocurrency from mounting a challenge of the $80,000 threshold. Gold, represented by the XAU/USD spot market, was also affected alongside broader risk assets. The report did not provide further details on the size of the market moves or on the outlook for Bitcoin.