On June 28, Bitcoin (BTC) ignored US macro data while doubts remained over the strength of the $60,000 support. According to data from Cointelegraph Markets Pro and TradingView, BTC price action was hovering in the sub-$61,000 range after the Wall Street open. The latest edition of the Personal Consumption Expenditures (PCE) Index, known as the Fed's "preferred" inflation gauge, fell in line with general expectations. At 2.6% annually, core PCE showed the lowest reading since March 2021.

While Bitcoin and altcoins remained virtually unmoved on the PCE, popular trader Skew noted that the decline in retail sales could pose a future volatility catalyst amid the 17% decline in apparel giant Nike's stock. As Cointelegraph reported, market sentiment remains in favor of the Federal Reserve lowering interest rates – a key liquidity event for risk assets and crypto.

Turning to Bitcoin, traders did not see much change in the situation with BTC/USD moving sideways above the $60,000 mark. However, there was cause for concern for trading resource Material Indicators. Support for bids below $60,000 was diminishing, as he had warned. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.#Bitcoin#Cryptocurrency #Economy

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