Bitcoin is trading at $61,700 after the news, slightly down over the last 24 hours.
By James Van Straten Jun 10, 2026, 12:42 p.m. 1 min readMake preferred onKey Details:
- In May, the Consumer Price Index (CPI) increased by 0.5% from the previous month and 4.2% year-on-year.
- The market anticipates no interest rate hike from the Fed at the June 17 meeting.
- Following the report, Bitcoin was trading around $61,700.
The latest U.S. inflation figures met expectations, suggesting that the Federal Reserve is likely to maintain interest rates between 350-375 basis points during the June 17 meeting, with a potential increase of 25 basis points by year-end.
According to the Bureau of Labor Statistics, the year-over-year CPI rose 4.2% in May, matching economists' predictions after an increase of 3.8% in April.
Month-over-month, CPI saw a 0.2% rise, which was lower than the anticipated 0.5% and below April's increase of 0.6%. Excluding food and energy, the Core CPI rose 0.2% in May, missing the forecast of 0.3% and down from April's 0.4%. On a year-over-year basis, the Core CPI increased by 2.9%, aligning with expectations and slightly above April's 2.8%.
Although Bitcoin experienced a minor increase following the announcement, it remains under pressure. Bitcoin BTC$61,555.19 was trading just above $61,000 after the report, showing little change over the last 24 hours. U.S. stock index futures fell across the board, while the yield on 10-year Treasury bonds rose to 4.5%. Meanwhile, WTI crude oil prices continued to decline, down an additional 1% to $88.
Prior to the CPI release, market expectations indicated a 98% likelihood that the Federal Reserve would keep interest rates steady at the June meeting, as per the CME Fed Watch tool.
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