Cryptos Fall As Markets Fear Inflation Spike, Hawkish Fed

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Cryptos Fall As Markets Fear Inflation Spike, Hawkish Fed

By Avila Sebastian ✉

| Published: 6/10/2026 6:19 AM ET

Addas your preferred news source on Google

Cryptocurrencies plunged heavily in the past 24 hours amidst growing fears of a hawkish monetary policy outlook from the Fed in response to persisting price pressures in the U.S. economy. Consumer price inflation readings for the month of May are due to be released on Wednesday morning. The fresh flare-up in the Middle East also weighed on sentiment.

Bitcoin traded between $62,856 and $60,757 in the past 24 hours. Overall crypto market capitalization has declined more than 2 percent during the same period.

The overnight plunge in overall crypto market capitalization comes amidst renewed tensions in the Middle East after the U.S. and Iran exchanged strikes. Markets assessed the resultant decline in crude oil prices, the dollar's flat moves, the decrease in Wall Street futures as well as the hardening in bond yields that followed the flare-up. Anxiety ahead of the looming interest rate decisions by major central banks as well as the potential liquidity drain from the blockbuster IPOs in the coming days also contributed to the bearish sentiment.

U.S. headline inflation reading on a year-on-year basis is seen rising to 4.2 percent from 3.8 percent in April. On a month-on-month basis, markets expect a cooling in the inflation position, from 0.6 percent to 0.5 percent. The year-on-year core inflation level which excludes the volatile food and fuel component is expected to rise in the month of May, to 2.9 percent from 2.8 percent in the previous month. On a month-on-month basis, the core inflation is expected to edge down to 0.3 percent from 0.4 percent.

Statistics from Coinglass shows an increase in liquidations during the past 24 hours. Crypto liquidations - forced closure of a trader's leveraged position by an exchange or lending protocol for insufficient funds (margin or collateral) to cover potential losses - has increased to $401 million in the past 24 hours from $300 million a day earlier. Long positions have increased to $313 million from $174 million a day earlier whereas short positions have dropped to $88 million from $127 million a day ago.

Aggregate crypto market capitalization has lost 2.23 percent in the past 24 hours to $2.11 trillion. Among the top 100 cryptocurrencies, 10 are trading with overnight gains of more than a percent whereas close to 70 are trading with overnight losses of more than a percent.

Bitcoin (BTC), the largest cryptocurrency is trading 2.1 percent lower at $61,316.01. The current price is around 51 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has lost 8.6 percent in the past week and close to 30 percent on a year-to-date basis.

Bitcoin Spot ETF products in the U.S. witnessed net outflows declining to $77 million on Tuesday from $91 million on Monday. iShares Bitcoin Trust ETF (IBIT) topped with net outflows of $62 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 Micron Technology ranked 15th.

Ethereum (ETH) declined 2.8 percent overnight as it traded at $1,622.92. 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 $1,681.55 and $1,607.00.

Ethereum Spot ETF products in the U.S. witnessed net outflows of $41 million on Tuesday versus net inflows of $82 million on Monday. Grayscale Ethereum Staking ETF (ETHE) topped with net outflows of $17 million.

4th ranked BNB (BNB) lost 2.6 percent overnight resulting in price decreasing to $583.92. BNB is trading 57 percent below the all-time high of $1,370.55 touched on October 13, 2025.

6th ranked XRP (XRP), a payments-focused cryptocurrency plunged 4.5percent overnight and is currently trading at $1.10, around 71 percent below the all-time high of $3.84 touched on January 4, 2018.

The price of 7th ranked Solana (SOL) dropped 4 percent overnight to $63.46. 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 edged up 0.31 percent overnight and is currently changing hands at $0.3225. The trading price is 27 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.

Memecoin Dogecoin (DOGE) slipped 2.3 percent overnight but moved up 1 notch to the 9th rank overall and is currently trading at $0.0833. DOGE is trading 89 percent below the peak price of $0.7376 recorded on May 8, 2021.

Hyperliquid (HYPE) slipped to the 10th rank overall with an overnight decline of 10.2 percent. HYPE is trading at $55.89, around 26 percent below the all-time high of $64.59 recorded on May 26, 2026.

44th ranked Audiera (BEAT) topped overnight gains among the top 100 cryptocurrencies with a surge of more than 23 percent.

73rd ranked Siren (SIREN) topped overnight losses among the top 100 cryptocurrencies with a decline of more than 37 percent.

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