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Analyze that Bitcoin establishes a new support level of $59k, and Thursday's PCE data may become a key test.

MeNews
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ME News reports that on June 25 (UTC+8), Bitcoin found support and rebounded multiple times near $59,000 in June, with this level replacing $60,000 as a more critical technical support. During Wednesday's accelerated decline, the price approached $59,000 before bouncing back to $61,000, a similar pattern seen on June 5, when the price stopped falling near $59,000 and rebounded to $67,000 within a few days. On Thursday evening, the Fed's most-watched PCE data will be released, with core PCE expected to rise 3.3%-3.4% year-over-year, the highest since October 2023. If the data exceeds expectations, it will confirm that the inflation rebound is not temporary, potentially strengthening rate hike expectations and pushing the US dollar index higher, putting pressure on cryptocurrencies. If it falls short of expectations, it may ease rate hike concerns and provide support for Bitcoin's rebound from $59,000. (Source: ChainCatcher)
BTC-2.81%
USIDX-0.18%
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