Bitcoin has a new line in the sand. Thursday’s core PCE could stress test it.
CoinDesk 2026-06-25 04:53:31
Context: Bitcoin has established a new support level at $59,000, which has been tested multiple times this month, and traders are closely watching this level ahead of Thursday's US core PCE inflation report. The report is expected to show the fastest price growth since late 2023, and a hotter-than-expected reading may lead to a stronger dollar and lower risk assets, including Bitcoin. If the core PCE comes in above estimates, it could reinforce expectations for Fed rate hikes and weigh on stocks and cryptocurrencies.
Key Facts
- Bitcoin has repeatedly bounced near $59,000 this month, establishing it as a key support level that traders need to watch more closely than the round $60,000 mark.
- The US core PCE inflation report, due on Thursday at 8:30 ET, is expected to show the fastest price growth since late 2023, with the core PCE forecast to have increased by 3.3%-3.4%, the highest since October 2023.
- A hotter-than-expected core PCE reading may add to the dollar's strength, sending risk assets, including Bitcoin, lower, as traders expect the Fed to raise rates to combat inflation.
- The dollar index is currently trading at its highest level since April 2025, and a strong core PCE reading could further boost its value.
- On Wednesday, Bitcoin prices fell to nearly $59,000 before bouncing back to $61,000 overnight, and as of writing, BTC is trading near $60,800, according to CoinDesk data.