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Bitcoin Falls to $58,000 on Thursday as U.S. Inflation Data Damps Rate Cut Expectations

2026-06-26 13:01:50

BTC1.15%

ETH0.31%

According to The Block, U.S. core PCE inflation data for May came in higher than expected at 3.4% year-over-year, the highest since October 2023, further cooling near-term Federal Reserve rate cut expectations. Bitcoin fell to $58,000 on Thursday, marking its lowest level since late 2024, and is currently trading around $59,000.

Spot Bitcoin ETFs recorded net redemptions for the sixth consecutive trading day, with June 25 seeing single-day outflows of $696 million. Ethereum spot ETFs also experienced six consecutive days of outflows, with June 25 outflows reaching $81.9 million.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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