Bitcoin Trades Below $63,000 Despite Softer Inflation Concerns Following US CPI Data
By Surbhi Khanna, ET Online | Updated: June 11, 2026, 11:51 AM IST
Bitcoin edged below the $63,000 threshold on Thursday, maintaining a cautious stance among investors even after U.S. Consumer Price Index (CPI) data aligned with market expectations. The cryptocurrency was last trading near $62,740 as the broader crypto market showed a mix of gains and losses.
CPI Data and Market Impact
The U.S. Labor Departmentâs Bureau of Labor Statistics reported Wednesday that the CPI increased by 4% over the year ending in May â marking the largest gain since April 2023. Despite this softer inflation print, which typically eases fears of aggressive Federal Reserve interest rate hikes, Bitcoinâs price failed to mount a sustained rally.
Analysts attribute this to the marketâs struggle to build momentum after the inflation data release, with Bitcoin lingering within a range-bound zone. Akshat Siddhant, Lead Quant Analyst at Mudrex, noted, âBitcoin remains range-bound between $60,500 and $62,500 as markets struggle to build momentum despite the latest U.S. CPI data coming in line with expectations.â He added that while softer inflation improved risk sentiment, it wasn’t sufficient to trigger a significant upward breakout.
Crypto Market Overview
Over the past 24 hours, Bitcoin and Ethereum, the two leading cryptocurrencies, posted modest gains of around 2%, trading respectively at approximately $62,740 and $1,656. Other major altcoins such as Binance Coin (BNB), XRP, Solana, Tron, Dogecoin, and Cardano recorded increases up to 3%. However, Hyperliquid bucked the trend by dropping nearly 2%.
The global cryptocurrency market capitalization rose roughly 2% to about $2.15 trillion, as per data from CoinMarketCap. Still, overall market sentiment remains cautious, described by CoinDCX Research Team as bordering on extreme fear, reflecting the sectorâs ongoing volatility.
Geopolitical and Market Influences
Vikram Subburaj, CEO of Giottus, observed that Bitcoin entered June 11 in a relatively stable position after sharp price swings in the first week of the month. While the cryptocurrency has seen some modest rebound recently, prices continue to remain well below levels recorded at the start of June.
Further compounding the situation, geopolitical tensions, notably following a U.S. strike on Iran, have influenced the market. CoinSwitch Markets Desk noted Bitcoinâs price cooled off after the strike, slipping back toward $61,500 after a brief recovery near $63,000. This price movement coincided with broader market repositioning, where oil prices hovered near $93 per barrel, gold steadied around $4,000 an ounce, and U.S. equities adjusted to the fresh geopolitical landscape.
Analyst Perspectives
Riya Sehgal, Research Analyst at Delta Exchange, highlighted that Bitcoin is holding above the $60,000â$61,000 demand zone, stabilizing near $62,100. Similarly, Ethereum is consolidating around $1,640 after a recent sharp decline. Sehgal commented that âThe recovery in both assets remains tentative,â pointing to continued investor caution. She also mentioned that exchange-traded fund (ETF) flows indicate caution, with outflows observed on June 9 from both Bitcoin and Ethereum spot ETFs.
The WazirX Market Desk echoed similar sentiments. Bitcoin and Ethereum are consolidating as key moving averages stay above current price levels. Despite near-term vigilance among investors, they emphasized ongoing progress in cryptocurrency adoption, citing Walmartâs rollout of crypto payment options as a development that increases mainstream visibility and use of digital assets in retail.
Conclusion
While the softer U.S. inflation data initially raised hopes of a more bullish outlook for cryptocurrencies, Bitcoin and other major digital assets have largely remained range-bound. Market participants appear to be balancing cautious optimism with geopolitical and macroeconomic uncertainties.
As crypto markets continue to grapple with volatility, adoption trends indicate that digital assets are steadily becoming more integrated into everyday financial and commercial activities. Nevertheless, investors should remain mindful of the inherent risks and ongoing market fluctuations.
Disclaimer: The views and opinions expressed by market analysts and experts in this article do not necessarily reflect those of The Economic Times. Cryptocurrency investments carry risk due to their volatile nature.
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