The market continues to rise following the release of U.S. inflation data. BTC is trading at nearly $72,400. ETH is above $2,100.

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The market is rising following the release of data on the Personal Consumption Expenditures (PCE) index—a key inflation indicator tracked by the Fed.

Core PCE (excluding food and energy) matched forecasts: 3.1% year-over-year and 0.4% month-over-month. Total PCE came in slightly below expectations—2.8% year-over-year versus the forecast of 2.9%.

The absence of a negative surprise in the core figure and the decline in headline PCE below the forecast reinforce expectations that the Fed will not tighten its rhetoric at upcoming meetings.