Bitcoin falls in Asian trading hours as traders continue to digest last week's higher-than-expected U.S. inflation data, which may prompt the Fed to keep rates higher for longer, Sygnum Bank analysts say. The PCE index, the Fed's preferred inflation gauge, hit a three-year high in May, signaling the easing cycle under new Chairman Kevin Warsh may be pushed even further out. Against this macro backdrop, "the opportunity cost of holding a non-yielding asset stays high, and a leveraged, thin-liquidity market amplifies the move on the way down," the bank adds. Sygnum says the market is now waiting for cooler inflation or a crypto-specific catalyst to revive prices. Bitcoin is last down 1.4% at $59,395.70. (jason.chau@wsj.com)