Bitcoin

While Bitcoin continues to consolidate in the $67,000-68,000 range, analysts generally think that BTC is giving a bullish signal and will rise in the short term.
At this point, while analysts argue that US inflation data is important for the course of BTC, crypto options trader and market analyst Chang explained the negative factors affecting BTC.
Speaking to Coindesk, analyst Chang said that macroeconomic developments may prevent Bitcoin from rising to higher levels.
Stating that increasing bond yields pose a risk for Bitcoin, Chang said:
<blockquote>
 “Bitcoin remains strong, but macro factors threaten BTC's rise.
 Bond yields are highly unstable and rising due to weak demand relative to U.S. Treasury bond issuance. If there is a negative impact on Bitcoin, it is likely due to rising bond yields and the dollar index.
 Because high returns reduce the attractiveness of investing in relatively risky assets such as Bitcoin and technology stocks.
 “At this point, I expect yields to remain volatile in June, providing a close correlation between Bitcoin and stocks.”
</blockquote>
Apart from Chang, Goldman Sachs analysts also said that the current level of bond yields could put pressure on all assets, especially risky assets such as Bitcoin.
Speaking to Bloomberg, Goldman Sachs analysts said, “Currently increasing bond yields will put pressure on all asset classes. Therefore, investors will closely follow the Personal Consumption Expenditures Price Index (PCE), the leading data followed by the FED on interest rates.” said.
Chang also pointed out the importance of PCE data and said, “The most important main event of the day is PCE. The data that the FED likes. The 2% inflation target that the FED talks about is the PCE, not the CPI. If the data exceeds expectations, investors will not buy risky assets.”
FED's leading data PCE will be announced today at 15:30 CET.
*This is not investment advice.
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While FED's Leading Inflation Data is Waited for Bitcoin, Analysts Announced the Rising Obstacles for BTC!

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