Cryptocurrencies have been seen by some investors as a speculative hedge against inflation and the Fed's plans to curb inflation could weigh on the broader cryptocurrency sector. 

So What Happened?

Our Benzinga team reported the headline PCE rose 5.4% in January. That's up from a 5.3% gain in December but still well below its 2022 high of a 7% increase in June. The January PCE reading came in well above economist estimates of 4.9%.

Core PCE inflation, which excludes volatile food and energy prices, was up 4.7% in January, above economist estimates of 4.3%...Read More

According to data from Benzinga Pro, Litecoin has a 52-week range of $133.95-$40.38.