Bitcoin dropped below $59,000 after hotter-than-expected U.S. PCE inflation triggered a risk-off move across markets. The spike in inflation weakened hopes for near-term Fed rate cuts, pushing the dollar higher and pressuring risk assets. Heavy liquidations and ETF outflows accelerated the selloff, briefly dragging BTC to its lowest level since 2024 as the “debasement trade” narrative faded.


$BTC
BTC0.40%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned