U.S. inflation meets expectations, reinforcing Fed's higher-for-longer stance

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email U.S. inflation meets expectations, reinforcing Fed's higher-for-longer stance Bitcoin was trading at $61,700 following the news, slightly down over the past 24 hours. By James Van Straten Jun 10, 2026, 12:42 p.m. 1 min read Make preferred on What to know : May CPI rose 0.5% for the month of May and 4.2% year-over-year. Markets are pricing in no fed rate hike for the June 17 meeting. Bitcoin was trading around $61,700 following the report. U.S. inflation data came in as expected on Wednesday, reinforcing the view that the Federal Reserve will keep interest rates at 350-375 bps at its June 17 meeting but is likely to increase rates by 25 bps by the end of the year. The Consumer Price Index year over year rose 4.2% in May, according to a report from the Bureau of Labor Statistics. Economists had been expecting a rise of 4.2% following the April 3.8% increase. On a month-over-month basis, CPI rose 0.2%, against expectations of 0.5% and against April's 0.6% rise. Core CPI, which excludes food and energy costs, rose 0.2% in May versus forecasts of 0.3% and April 0.4%. Year-over-year core CPI was higher by 2.9% versus forecasts of 2.9% and April's 2.8%. While bitcoin saw a slight uptick after the data was published, it still remains under pressure. Bitcoin BTC $ 61,604.97 traded just above $61,000 following the report, mostly unchanged over the past 24 hours. U.S. stock index futures were down across the board, and the 10-year Treasury yield rose to 4.5%. WTI crude oil continues to head lower, down a further 1% on the day at $88. Ahead of the CPI data, markets were pricing in a 98% probability that the Federal Reserve would leave interest rates unchanged at its June meeting, according to the CME Fed Watch tool . Bitcoin News More For You Zcash, Hyperliquid tokens lead losses as traders bet against a bitcoin bounce By Omkar Godbole , Shaurya Malwa | Edited by Sheldon Reback 1 hour ago Crypto markets are under pressure ahead of key U.S. inflation data due later Wednesday. What to know : Crypto markets are under pressure ahead of key U.S. inflation data, with bitcoin back below $61,500 and trading under its 200-week moving average, a level some analysts associate with prolonged bear markets. Derivatives positioning and funding rates across major tokens point to growing bearish sentiment and increased short bets. A... Read full story Latest Crypto News A 'Bitcoin DeFi' project just shut down with a brutal post-mortem: Users just didn't care 42 minutes ago The inflation scenario that could send bitcoin tumbling below $60,000 1 hour ago Zcash, Hyperliquid tokens lead losses as traders bet against a bitcoin bounce 1 hour ago Japan's three largest banks aim for joint stablecoin issue by March 3 hours ago XRP market shows signs of capitulation as holders sell at loss 4 hours ago Elon Musk's SpaceX IPO is four times oversubscribed. A crypto bet tells a more cautious story 5 hours ago Top Stories Live updates: Bitcoin and stocks trim big early losses after soft U.S. inflation data 6 hours ago Bitcoin ETFs are no bigger today than when Trump won the election 7 hours ago Come back after the summer, says one analyst on crypto markets 21 hours ago Bitcoin and gold fall together as a rate-hike bet hits every hedge 7 hours ago Crypto tax bills a work-in-progress as U.S. House lawmakers pose concerns 15 hours ago A16z, Paradigm lead $175 million bet to move global credit markets onchain 22 hours ago In this article BTC BTC $ 61 604,97 ◢ 1,59 %