Bitcoin Rises 0.6% to $59,699 on June 26, Expected to Trade in Range Until Inflation Cools

BTC-2.43%
According to Sygnum Bank, Bitcoin rose 0.6% to $59,698.79 in Asian early trading on June 26 following the release of the U.S. personal consumption expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, which came in higher than target. Analysts expect cryptocurrency to trade in a range until inflation cools noticeably, as elevated inflation data may keep the Federal Reserve on hold, increasing the opportunity cost of holding non-yielding assets like Bitcoin. Sygnum's investment strategist Can-Luca Koymen noted that recent ETF outflows appear to reflect profit-taking and macro de-risking rather than structural exits.
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