Bitcoin has a new line in the sand. Thursday’s core PCE could stress test it.

Bitcoin’s key support has shifted to $59,000, a level traders say bulls must defend to avoid a deeper slide ahead of Thursday’s U.S. core PCE inflation data, according to CoinDesk. BTC fell to nearly $59,000 on Wednesday before rebounding to about $61,000 overnight and was last near $60,800; a similar bounce from around $59,000 on June 5 preceded a move to $67,000. Headline PCE is forecast at 4.1% y/y in May and core PCE at 3.3%-3.4%; a hotter print could lift rate-hike expectations and pressure crypto, while a cooler reading could support a rebound.