The current scenario sees Bitcoin stabilizing within the price range of $67,000 to $68,000, prompting analysts to foresee a bullish trajectory for BTC in the near future. While the focus lingers on the significance of US inflation data on Bitcoin's path, insights from experts shed light on the potential hurdles affecting the digital currency.

In discussions with Coindesk, analyst Chang highlighted the macroeconomic events that could impede Bitcoin's ascent to higher levels. Chang emphasized the risks posed by escalating bond yields on Bitcoin, stressing that these fluctuations could be attributed to the subdued demand in comparison to the issuance of U.S. Treasury bonds. The surge in bond yields and the dollar index could exert a negative influence on Bitcoin, as high returns from traditional investments may diminish the appeal of comparatively volatile assets like Bitcoin and technology stocks.

Chang anticipates ongoing volatility in bond yields throughout June, thereby establishing a significant correlation between Bitcoin and the stock market.

Echoing similar sentiments, analysts from Goldman Sachs expressed concerns regarding the existing level of bond yields and its potential impact on various assets, particularly on high-risk assets such as Bitcoin. They cautioned that the escalating bond yields may exert pressure across all asset classes, leading investors to closely monitor the Personal Consumption Expenditures Price Index (PCE), a pivotal indicator monitored by the Federal Reserve for interest rate decisions.

Drawing attention to the imminent release of the PCE data, Chang emphasized its criticality by stating that it is a key event for the day favored by the Federal Reserve. The focus on the 2% inflation target, based on the PCE rather than the Consumer Price Index (CPI), highlights the significance of this data point. Should the data surpass expectations, investors are likely to shy away from risky assets.

The Federal Reserve is set to unveil the leading PCE data today at 15:30 CET.

*This article does not contain investment advice.