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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid heightened market anticipation regarding the trajectory of US monetary policy, official data showed the annual US inflation rate for May rose to 4.2%, matching economists' forecasts. Core inflation, which strips out volatile food and energy prices, also came in as expected at 2.9% year-over-year. Following the release, Bitcoin price fell below the $62,000 level as it faced mounting pressure from US Dollar strength and a noticeable weakening in spot demand.
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Sign InThis alignment with inflation forecasts follows a period of volatility in early 2026, with analysts at Goldman Sachs noting that persistent inflation above the Fed's target limits the scope for imminent rate cuts. Per market data, while gold remained relatively stable, rising Treasury yields pressured growth assets. The 4.2% headline figure confirms that price pressures remain sticky compared to previous quarters, contributing to the bearish sentiment observed across the digital asset sector.
Traders should closely watch Bitcoin's technical support levels, as the 0A7O.L instrument closed at $119.04 on June 10, 2026, after hitting a session low of $116.26. Looking ahead, the upcoming release of US Initial Jobless Claims will be a critical catalyst, as any unexpected shift in labor market strength could redefine expectations for the Federal Reserve's next interest rate decision.