Tonight at 20:30, May PCE data will be released
108000 is a key resistance level, having repeatedly spiked and retreated, with a dense upper shadow.
This time, the sharp rise was driven by news of a ceasefire between Israel and Hamas, but in reality, it is the main force washing the plates and enticing the bulls.
Once it breaks below the 102000 starting point, it could lead to a waterfall collapse.
Considering this situation, I originally thought the U.S. economy was weak, with rising unemployment, making it likely that the PCE data would underperform.
If it is indeed lower than expected, the market will definitely bet wildly on the Federal Reserve cutting interest rates. At that time, Bitcoin will lead the charge, along with Ethereum, SOL, BNB, and even altcoins may experience a wave of “chaos and frenzy” riding on the coattails.
If the data is higher than expected, it indicates significant inflationary pressure. The Federal Reserve may tighten monetary policy to curb inflation.
Stay tuned to Hashni, continuous updates tonight～