Bitcoin price faces midweek squeeze that will decide whether $60,000 holds
Bitcoin faces two major catalysts this week: May PCE inflation data on Thursday and more than $10 billion in Bitcoin options expiring on Deribit Friday. Bitcoin is trading around $62,500 after June weakness left it stuck between roughly $62,000 and $67,000. A hotter-than-expected PCE reading could reinforce a tighter Fed outlook, lift real yields and the dollar, and make Bitcoin less attractive versus bonds. That matters because institutional demand has already weakened, with spot Bitcoin ETFs seeing large outflows in late May and June. Friday’s quarterly expiry is the biggest of the year, with about 80% of open interest out of the money after the recent drop. Dealer hedging around key strikes like $60,000 and $80,000 could pin price near crowded levels or amplify a move. A soft inflation print could trigger relief buying, but upside may be capped by the $74,000 max-pain level and the $80,000 call wall.
