The October and November PCE report shows a 0.2% monthly inflation increase, with core PCE at 2.8%, above the Fed's 2% target. However, markets view this as uncertain due to data estimation methods. Bitcoin remains stable as focus shifts to real interest rates, affecting the cost of holding Bitcoin. The Fed's patience amid strong growth and core inflation limits quick rate cuts, influencing liquidity for risky assets. In conclusion, the PCE report sets the context rather than driving momentum, with markets awaiting clearer inflation data.