The cryptocurrency has established a new key support level, which may be challenged following the upcoming U.S. inflation report.
By Omkar Godbole Jun 25, 2026, 4:53 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on BTC bulls have identified a new crucial support level. (Yashowardhan Singh/Unsplash)SummaryShow- Bitcoin has consistently rebounded around $59,000 this month, marking it as a significant support level that traders should monitor more closely than the $60,000 threshold.
- The forthcoming U.S. core PCE inflation report is anticipated to indicate the fastest price growth since late 2023.
- A stronger-than-expected result may bolster the dollar, leading to declines in risk assets, including BTC.
The bitcoin BTC$61,118.21 market has established a new support level, which may be tested by Thursday's U.S. core PCE data.
This level is set at $59,000, which has proven to be a robust support point, limiting downward movements in recent trading sessions.
A support level in trading refers to a specific price point where a downward trend typically pauses or reverses, allowing for a rebound as strong buying interest counteracts selling pressure. However, a single occurrence does not necessarily indicate a strong support; traders generally look for at least two instances of price stabilization or rebounds from a specific level to confirm it as new support.
On Wednesday, as the market faced selling pressure, prices dipped to around $59,000 before recovering to $61,000 overnight. Currently, BTC is trading around $60,800, as per CoinDesk data. A similar scenario unfolded earlier this month on June 5, when the sell-off lost momentum near $59,000, leading to a rise to $67,000 in subsequent days.
This context explains why $59,000 is now viewed as the crucial support level that bulls must defend to prevent a more significant decline.
Attention is focused on this new support in light of the upcoming Personal Consumption Expenditures (PCE) release scheduled for Thursday at 8:30 ET. Analysts predict that the headline PCE will show a year-on-year increase of 4.1% for May, the highest since April 2023, according to FactSet, keeping inflation well above the Fed's 2% target.
The core PCE, which is the Fed's preferred measure excluding volatile food and energy prices, is projected to rise by 3.3%-3.4%, the highest since October 2023.
A stronger-than-expected core PCE reading would affirm the persistence of inflation, dismissing the notion that it is merely a temporary effect of energy market issues stemming from the conflict in Iran earlier this year. This could heighten expectations for Fed interest rate hikes, further strengthening the dollar index—which is already at its highest point since April 2025—and potentially pressuring stocks and cryptocurrencies.
Traders are advised to monitor $59,000 rather than the $60,000 level as the key support to watch.
In a more favorable scenario, if the core PCE reports come in lower than projected, it could alleviate concerns over rate hikes, slow the dollar’s ascent, and encourage BTC bulls to take advantage of the rebound from $59,000.
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CEX Volumes Hit Lowest Level Since September 2024 as RWA Perps Reach All-Time High
CEX Volumes Hit Lowest Level Since September 2024 as RWA Perps Reach All-Time High
In May, total exchange volumes decreased by 3.45% to $4.41T, marking the lowest level since September 2024. Conversely, RWA perpetual futures volumes surged by 10.4%, achieving a new record.
By CoinDesk ResearchJun 15, 2026In May, total exchange volumes decreased by 3.45% to $4.41T, marking the lowest level since September 2024. Conversely, RWA perpetual futures volumes surged by 10.4%, achieving a new record.
Why it matters:
In May, total exchange volumes decreased by 3.45% to $4.41T, marking the lowest level since September 2024. Conversely, RWA perpetual futures volumes surged by 10.4%, achieving a new record.
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