Bitcoin's price has dropped below $110,000 following a Personal Consumption Expenditures (PCE) inflation report indicating rising prices. The report has heightened concerns about inflation, impacting the cryptocurrency market. In other news, Eric Trump has commended China's significant influence on Bitcoin and cryptocurrencies, highlighting its crucial role in shaping the future of digital finance. Meanwhile, Chainlink and Pyth Network have announced a partnership with the US Department of Commerce to integrate official economic data on-chain, marking a first in the blockchain space.