🔴 IBIT is trading 3.2% down today as Bitcoin slides ahead of key U.S. PCE inflation data

IBIT is trading 3.2% lower as Bitcoin extends a sharp 24-hour decline ahead of Thursday's U.S. PCE inflation report.

• Traders are de-risking on concerns that the upcoming inflation data could reinforce higher-for-longer rate expectations, pressuring speculative assets like crypto.
• Macro risk-off sentiment and a tech-led equity pullback are driving Bitcoin below recent support levels, dragging spot ETFs meaningfully lower.
• Market participants are repositioning ahead of the data release, which is expected to provide clarity on the Federal Reserve's future interest rate path.