Crypto Markets Cheer The Soft Core CPI

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Crypto Markets Cheer The Soft Core CPI

By Avila Sebastian ✉

| Published: 6/11/2026 6:38 AM ET

Addas your preferred news source on Google

Better-than-expected core CPI reading released from the U.S. on Wednesday aided a rebound in cryptocurrency markets. The U.S. military's announcement that it has completed military strikes against Iran also provided support for cryptocurrency prices.

Anxiety ahead of the interest rate decision by the European Central Bank, widely expected to be a quarter percentage hike also swayed crypto market sentiment. The interest rate decisions on the anvil by major central banks as well as the Space X IPO also impacted crypto market sentiment.

Bitcoin traded between $62,942 and $60,845 in the past 24 hours. Overall crypto market capitalization has increased around 2 percent during the same period.

Fears of a hawkish monetary policy action by the Federal Reserve faded after data released by the U.S. Bureau of Labor Statistics showed annual headline inflation, monthly headline inflation as well as annual core inflation matching market expectations. The month-on-month core inflation on the other hand, declined more than expected.

Headline inflation reading on a year-on-year basis rose to 4.2 percent in May from 3.8 percent in April. On a month-on-month basis, headline inflation decreased to 0.5 percent from 0.6 percent in the previous month. The year-on-year core inflation level which excludes the volatile food and fuel component increased to 2.9 percent from 2.8 percent in the previous month. On a month-on-month basis, the core inflation declined to 0.2 percent from 0.4 percent in April, surpassing expectations of a decline to 0.3 percent.

The inflation updates soothed market sentiment as cryptocurrencies that are typically non-interest-bearing respond negatively to increase in general interest rates as it increases the opportunity cost of holding cryptocurrencies. The latest position of producer price inflation from the U.S. is due on Thursday.

With broader inflation readings inline and the core reading increasing less than feared, the deeply oversold condition in the cryptocurrency market has reversed. After dropping to 14 a day earlier, CoinMarketCap's Fear and Greed Index, a measure of the sentiment prevailing in the cryptocurrency market has improved to 16 but remains in the "extreme fear" category. The index was at 20 ("fear") a week ago and 52 ("neutral") a month ago.

Aggregate crypto market capitalization has gained 2 percent in the past 24 hours to $2.16 trillion. Among the top 100 cryptocurrencies, around 45 are trading with overnight gains of more than a percent whereas close to 15 are trading with overnight losses of more than a percent.

Bitcoin (BTC), the largest cryptocurrency is trading 2.7 percent higher at $62,797.98. The current price is around 50 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has lost 0.2 percent in the past week and more than 28 percent on a year-to-date basis.

Bitcoin Spot ETF products in the U.S. witnessed net outflows rising to $214 million on Wednesday from $77 million on Tuesday. iShares Bitcoin Trust ETF (IBIT) topped with net outflows of $149 million.

Bitcoin is continuing in the 14th position in the global ranking of all assets as per market capitalization published by and is positioned between Samsung ranked 13th and Berkshire Hathaway ranked 15th.

Ethereum (ETH) rallied 2.3 percent overnight as it traded at $1,656.14. The leading alternate coin is trading 67 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,665.76 and $1,603.83.

Ethereum Spot ETF products in the U.S. witnessed net outflows of $36 million on Wednesday versus $41 million on Tuesday. iShares Ethereum Trust (ETHA) topped with net outflows of $21 million.

4th ranked BNB (BNB) added 2.7 percent overnight resulting in price increasing to $599.39. BNB is trading 56 percent below the all-time high of $1,370.55 touched on October 13, 2025.

6th ranked XRP (XRP), a payments-focused cryptocurrency gained 0.72 percent overnight and is currently trading at $1.11, around 71 percent below the all-time high of $3.84 touched on January 4, 2018. U.S.-listed XRP Spot ETF products recorded net inflows of $1.2 million on Wednesday versus $7.44 million a day earlier.

The price of 7th ranked Solana (SOL) increased 2.9 percent overnight to $65.30. SOL's current price is around 78 percent below its all-time-high of $294.33 recorded on January 19, 2025.

TRON (TRX) ranked 8th overall however slipped 0.2 percent overnight and is currently changing hands at $0.3221. The trading price is 27 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.

Memecoin Dogecoin (DOGE) ranked 9th rank overall added 1.84 percent overnight and is currently trading at $0.0850. DOGE is trading 88 percent below the peak price of $0.7376 recorded on May 8, 2021.

10th ranked Hyperliquid (HYPE) gained 0.33 percent overnight. HYPE is trading at $56.03, around 26 percent below the all-time high of $64.59 recorded on May 26, 2026. U.S.-listed HYPE Spot ETF products recorded net inflows of $2.8 million on Wednesday versus nil flows a day earlier.

34th ranked Audiera (BEAT) topped overnight gains among the top 100 cryptocurrencies with a surge of more than 56 percent. The BEAT token of the Audiera blockchain that operates an AI-focused ecosystem where humans & autonomous AI agents are considered as equal participants has jumped more than 500 percent in the past week.

87th ranked Siren (SIREN) topped overnight losses among the top 100 cryptocurrencies with a decline of close to 23 percent.

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