As the US inflation report approaches, traders warn of a $60,000 Bitcoin (BTC) price in the coming weeks.

“Price will not provide a clear direction until the US PCE announcement on Friday, which could be a make-or-break event for Bitcoin,” Bitbank said in an email. “If inflation data gets hotter than expected, Bitcoin could give up about half of the gains it has made over the past two weeks and fall to around $65,000.”