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#BTCProbes60KKeySupportLevel
US PCE Inflation Rises to 4.1%, Bitcoin Price Crashes Back to $59,000
Macroeconomic pressures are once again shaking the crypto market after the Personal Consumption Expenditures (PCE) inflation data for May in the United States was officially released on Thursday (25/6) evening. The inflation indicator most referenced by the central bank Federal Reserve (The Fed) jumped to 4.1% year-on-year. This figure sets the highest record since April 2023, while also underscoring that the pace of US inflation is currently running twice as high as The Fed’s absolute target of 2.0%.
At the same time, Core PCE inflation, which excludes the food and energy sectors, also climbed to 3.4% year-on-year—its highest level since October 2023. The release of data showing how tight price pressures are immediately triggered serious concerns among market participants about the potential for further interest rate hikes by The Fed to rein in the rising cost of living around the world.
The negative reaction was seen right away in the crypto market shortly after the data was made public. Tightening liquidity drove a massive sell-off, causing Bitcoin to lose momentum and crash again into the $59,000 area.