Bitcoin has established support at $59,000, but the US May Personal Consumption Expenditures (PCE) data, to be released today, could act as a variable, CoinDesk analyzed. The media outlet stated, "If the May PCE exceeds expectations, concerns about a resurgence of inflation could increase the likelihood of a Fed rate hike, which, coupled with a strong dollar, could act as a downward factor for the cryptocurrency market. Conversely, if it falls below expectations, inflation concerns would ease, and BTC could continue its rebound using $59,000 as a support level."
