Rolando Noria Leonardo
๐Ÿ…น๐Ÿ†„๐Ÿ…ฝ๐Ÿ…ด 2026 ๐—ช๐—ต๐—ฎ๐˜ ๐—œ๐˜€ ๐——๐—ฟ๐—ถ๐˜ƒ๐—ถ๐—ป๐—ด ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ปโ€™๐˜€ ๐——๐—ฒ๐—ฐ๐—น๐—ถ๐—ป๐—ฒ? Bitcoin declined to a 21-month low as the U.S. Personal Consumption Expenditures (PCE) inflation index reached its highest level in three years, triggering approximately US$600 million in cryptocurrency liquidations. The PCE inflation data also affected equity markets, with the Nasdaq 100 falling 2% within 30 minutes. Bitcoinโ€™s correction remains consistent with the price behavior observed throughout the 2022 bear market. The May reading of the U.S. PCE price index came in at 4.1%, setting a new three-year high. Month over month, the May PCE price index increased by 0.4%. Excluding food and energy, the core PCE price index rose by 0.3%. Equity markets reacted with volatility. The Nasdaq Composite declined by 0.5%, while the S&P 500 managed to post a gain. The Nasdaq 100 experienced a sharper move, falling by more than 2% within the first 30 minutes after the market opened. Bitcoin also generated significant long-position liquidations, reporting total cryptocurrency liquidations of approximately US$600 million within a single hour. Once the June monthly closing is confirmed, the market may gain greater clarity on the price level from which Bitcoin could potentially attempt a recovery in July following the recent breakdown.
Not investment advice. The author may have financial interests in the mentioned instruments.
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