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Crypto

Bitcoin gains capped despite U.S. PCE tailwind, focus on break above $85,600

Bitcoin briefly rose above $85,000 after U.S. August personal consumption expenditures (PCE) inflation came in below forecasts, but the rally soon faded. It climbed to $85,598.94 intraday before slipping to around $83,600. Markets adjusted October rate expectations, though inflation concerns persisted as core PCE remained above the Federal Reserve’s 2 percent target and 10-year Treasury yields hit about 5.25 percent. Bitcoin stayed in a range after September’s surge, with attention on resistance near $85,599.

AI & Enterprise

Pennsylvania residents oppose data centre plan despite payments

A large data centre development planned in Pennsylvania has run into opposition from local residents. The developer offered $10,000 per household to about 4,500 homes, along with additional community funding and payments to the township over 15 years. Many residents objected, saying the payments resemble a bribe and could deepen community divisions. Residents also raised concerns about noise, water use, possible higher electricity costs, environmental impacts and falling home values.

Crypto

U.S. signals release of up to 40 million barrels from SPR, possible ripple effects on bitcoin

The U.S. Department of Energy has issued a tender notice to swap up to 40 million barrels of crude from the Strategic Petroleum Reserve, raising expectations of possible indirect effects on risk assets such as bitcoin even before physical deliveries. The tender closes on Oct. 6, with deliveries planned for November and December if swaps are concluded. The notice is part of an earlier plan covering 172 million barrels and does not add new supply by itself.