TradingKey – US May PCE data strengthens rate hike expectations, with Bitcoin’s price hitting a new low since yesterday, closing in on $58,000.
On June 25, Eastern Time, following the release of the US May PCE data, Bitcoin ( BTC) fell below the $59,000 threshold, hitting a low of $58,121 and once again breaking the two-year low set yesterday. Currently, the price of Bitcoin has recovered to above $59,000, temporarily trading at $59,550.
Bitcoin price chart, Source: TradingView
The plunge in Bitcoin’s price and the broader cryptocurrency market has once again dealt a heavy blow to bulls. In the past 24 hours, over 130,000 traders in the crypto market were liquidated, with the total amount approaching $900 million, a slight decrease from…
