Bitcoin · Federal Reserve (FED) · Iran · CryptoSlate
Bitcoin price runs into midweek squeeze that will decide whether $60,000 holds
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Bitcoin price faces back-to-back tests this week, with May PCE coming out on Thursday at 8:30 a.m.
Key facts
- Bitcoin is trading near $62,500 after a rough June that briefly pushed it under $60,000 and left it ranging between $62,000 and $67,000
- This pushed the odds of a 2026 cut toward zero and a December hike toward 85%, with May CPI already running at 4.2%
- The last PCE report gave the Fed cover to stay tight, with headline PCE rising 3.8% in April from a year earlier, nearly double the 2% target, and core holding at 3.3%, its highest since October 2023
- Bitcoin price faces back-to-back tests this week, with May PCE coming out on Thursday at 8:30 a.m
Summary
01 Bitcoin faces Thursday's May PCE release before more than $10 billion in options settle Friday morning. 02 The pairing matters because inflation data can reset liquidity expectations while dealer hedging can magnify any move. 03 With spot near $64,000 and most expiry open interest out of the money, traders face a squeeze between $60,000 and $74,000 levels. Bitcoin is trading near $62,500 after a rough June that briefly pushed it under $60,000 and left it ranging between $62,000 and $67,000.