Bitcoin Falls as Traders Digest Waller Remarks, Await PCE Data — Market Talk

Bitcoin falls as investors mull remarks from Federal Reserve Governor Christopher Waller and await key data on the Fed's preferred inflation measure. Waller said Thursday he would back a 25 basis-point interest rate cut in September, as widely expected by markets. For the time being, however, he believed a bigger 50 basis-point cut wasn't necessary based on current data. Upcoming jobs data would need to point to a "substantial weakening" in the economy to support such a move, he said. Investors are also looking ahead to the U.S. core personal consumption expenditures price data at 1230 GMT for hints on the rate cut path. Bitcoin falls 0.6% to $111,273, LSEG data show. (renae.dyer@wsj.com)