Bitcoin Slips Below $59,000 Following May PCE Inflation Report
Bitcoin slipped below $59,000 after May PCE inflation came in at 4.1% year-over-year, with market data pointing to liquidations and ETF-flow pressure.
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Bitcoin fell to around $59,400 as $691 million fled spot ETFs, the most since May, ahead of Friday's $10.6 billion options expiry.
Read full articleBitcoin slipped below $59,000 after May PCE inflation came in at 4.1% year-over-year, with market data pointing to liquidations and ETF-flow pressure.
Bitcoin risked turning $60,000 into resistance as BTC price weakness persisted following another tech-driven sell-off in Asian stock markets.
Strategy’s flagship preferred stock tumbled again when U.S. markets opened, setting another record low as Bitcoin lingered below $60,000.
It was another paiful weeks for the crypto bulls but the worst might still not be over.
Three Strategy officials published separate posts within hours Friday defending the company's balance sheet, as bitcoin fell to around $59,600 and STRC preferred shares traded near historic lows.
Bitcoin options skew points to defensive trader positioning as put demand rises and the market consolidates around fragile support levels.
The Commerce Secretary's Bitcoin investments highlight potential conflicts of interest, influencing US crypto policy and market dynamics. The post US Secretary of Commerce says he buys Bitcoin on every price dip appeared first on Crypto Briefing.
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