Bitcoin rose above $62,000 on June 10 after US inflation data came in line with expectations. The May Consumer Price Index rose 4.2% year over year, matching forecasts and marking the fastest pace in three years.
Core CPI increased 0.2% month over month, below the 0.3% expected. The report helped ease immediate concerns about hotter inflation that could have pressured the Federal Reserve toward higher rates. Bitcoin had entered the release near $61,000 after weeks of declines and ETF outflows. The data allowed the cryptocurrency to defend the $60,000 level and rebound briefly. Traders noted the print supported views of persistent but not accelerating inflation pressures. Bitcoin later traded around $61,800, up modestly on the day but still below earlier June levels. Analysts said the next test for buyers lies near $64,000 if the relief rally is to extend.
