Bitcoin · Federal Reserve (FED) · Kevin Warsh · CryptoSlate
Bitcoin nearly loses $58K as ETF outflows decide whether inflation relief holds
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Bitcoin registered an intraday low of $58,189 on June 25 before clawing back toward $60,100 as of press time, even as the Federal Reserve's preferred inflation gauge landed roughly in line with expectations.
Key facts
- The June 25 modest dollar easing after PCE tracked directly with Bitcoin's partial recovery from $58,189 toward the high-$59,000 area, underscoring how heavily Bitcoin now trades
- If BTC loses $58,000 on a closing basis with outflows continuing and the dollar reasserting itself, the $50,000–$54,000 band becomes the next zone to watch
- Bitcoin registered an intraday low of $58,189 on June 25 before clawing back toward $60,100 as of press time, even as the Federal Reserve's preferred inflation gauge landed roughly in line
- Bulls had pointed to $59,000-$62,000 as the zone anchored by the 200-week moving average and concentrated buying volume
Summary
01 Bitcoin fell to an intraday $58,189 before recovering toward $59,542 after the May PCE print met expectations. 02 The data eased an inflation shock, but Bitcoin still trades under pressure from hawkish Fed pricing, dollar strength, and ETF outflows. 03 Bulls need a closing reclaim of $60,000; repeated losses of $58,000 could send Bitcoin toward the $50,000-$54,000 zone. The May PCE print came in at a headline of 4.1% year over year and a core of 3.4%, with a monthly headline of 0.4% versus a 0.5% estimate.