Latest news! Tonight, the Federal Reserve will release important data. Will Bitcoin usher in a reversal of difficulties?

Tonight at 20:30, the much-anticipated US PCE data for May will be released. As of press time, the three major US stock indexes rose before the market opened, and more analysts believe that the PCE data released tonight will increase expectations of interest rate cuts!

PCE is usually more representative of whether US inflation is suppressed than CPI. The current market expectation is 2.6%. If the published data is lower than 2.6%, it is positive, and higher is negative. The good news is that the CPI and PPI that have been released show that inflation has cooled down, so the PCE released tonight is likely to be positive.

For Bitcoin's market this week, there is an urgent need for a positive to boost the price of the currency, otherwise it will be sideways for too long near $60,000 and it is very likely to fall below $60,000! As the saying goes, "sideways for a long time will fall"!

Other negative factors include: the selling pressure of compensation in Mt.Gox, the net outflow of funds from Bitcoin spot ETF, and the on-chain data that more than 4,000 Bitcoins flowed into Binance Exchange yesterday, which are all bearish.

Therefore, be careful and pay attention to whether Bitcoin will rise and fall if the PCE data is positive. Do not exceed 50% in the position, keep enough cash and wait until the "panic" falls out before taking action.

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