NewsHK
HONG KONG, June 25 — Bitcoin dropped to $58,000 on June 25 after hot personal consumption expenditures data stoked Federal Reserve rate fears and spot exchange-traded fund outflows stretched to a sixth consecutive day.
Analysts described the combination as evidence that the asset's near-term price floor is fragile.
The Macro Catalyst Personal consumption expenditures data — the Fed's preferred inflation measure — came in hot, reinforcing the case for policymakers who argue that rates should stay elevated.
For $BTC, that has a direct consequence: higher rates raise the opportunity cost of holding a non-yielding asset, and markets moved quickly to reprice that risk.
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