Analysis: US PCE inflation data will be released tomorrow night, Bitcoin price faces the risk of correction

PANews May 30 news, according to CoinDesk, the market is watching Friday's US PCE inflation data to predict the direction of Bitcoin. The exchange of Japanese crypto exchange bitBank said that stronger-than-expected consumer confidence and weak US Treasury sales are putting pressure on Bitcoin prices. bitBank said in an email: "Before Friday's US personal consumption expenditures (PCE) announcement, the crypto market price may not show a clear trend, which will be the key to Bitcoin's success or failure. If the inflation data is higher than expected, Bitcoin may give up about half of its gains in the past two weeks and fall to about $65,000."

FxPro senior market analyst Alex Kuptsikevich also expressed a similar view: "In the most pessimistic case, (Bitcoin) prices may fall back to $60,000. A more optimistic scenario suggests a drop to the $65,000 area, which is the position of the 50-day moving average." March's figures rose 2.7% year-on-year. April's data will be released at 20:30 Beijing time on May 31.

In addition, on-chain analysis company Glassnode recorded signs of a recovery in Bitcoin buyers' interest. Long-term BTC holders, defined as those who have held their assets for more than 155 days, have resumed accumulation for the first time since December 2023 after selling for several months.