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06/24 05:22

Bitcoin price taces midweek squeeze that will deci

#World Cup Predictions: 100,000 USDT Daily #2026 World Cup Posting Challenge on HTX Square #HTXCommunity4thAnniversary Bitcoin price taces midweek squeeze that will decide whether $60,000 holdsBitcoin price faces back-to-back tests this week, with May PCE coming out on Thursday at 8:30 a.m. EDT and more than $10 billion in Bitcoin options settling on Deribit at 08:00 UTC Friday in the quarterly expiry that closes the second quarter. Bitcoin is trading near $62,500 after a rough June that briefly pushed it under $60,000 and left it ranging between $62,000 and $67,000. A surprise in the inflation print could land while billions in contracts are already sliding toward settlement, with the hedging that follows risking a sharper move than the data alone would produce. Chart showing the open interest for Bitcoin options on Deribit by expiry as of June 23, 2026 (Source: Deribit) We've seen this play out once already this year. On March 27, $14.1 billion in Bitcoin options and $2.2 billion in Ethereum contracts expired into a market hit by an oil shock, rising yields, and fading rate-cut hopes, and Bitcoin dropped toward $66,200 that morning as dealer hedging turned an ordinary drop into a faster one. A hot PCE inflation backdrop The last PCE report gave the Fed cover to stay tight, with headline PCE rising 3.8% in April from a year earlier, nearly double the 2% target, and core holding at 3.3%, its highest since October 2023

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