BTC faces key test at $60K ahead of PCE data, options expiry

Bitcoin is facing a major inflection point ahead of the release of the U.S. May Personal Consumption Expenditures (PCE) price index on June 25 and the expiry of about $10 billion in Bitcoin options on June 26, according to an analysis by CryptoSlate. The outlet explained that the PCE data could alter the liquidity outlook, while hedging related to the options expiry could amplify price volatility. This week could determine whether BTC can hold the $60,000 support level, CryptoSlate added. Bitcoin is currently trading at around $62,500. In the options market, the $60,000 put option level is seen as a key support, while the $80,000 call option level is considered a major resistance. The Max Pain price is around $74,000.