Core

Bitcoin

Grayscale

Higher

Surge

<div>
 <a href="https://coincodex.com/crypto/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price has recovered to about $63,150</a> before retracing toward $62,800 after the U.S. May Producer Price Index came in hotter than expected at the headline level. The move showed that traders remain sensitive to inflation data because stronger price pressures can raise expectations for tighter Federal Reserve policy.
 The May PPI <a href="https://x.com/KobeissiLetter/status/2065049515384582205?s=20" rel="noopener noreferrer nofollow">report</a> showed headline producer inflation rising to 6.5%, above expectations of 6.4% and the highest level since November 2022. Core PPI inflation came in at 4.9%, in line with April’s revised level, leaving markets divided between hotter headline pressure and steadier underlying inflation.
 <h2 id="why-did-bitcoin-fall-after-the-may-ppi-report">Why Did Bitcoin Fall After the May PPI Report?</h2>
 Bitcoin fell because the May PPI report showed headline inflation at 6.5%, slightly above the 6.4% forecast. BTC had recovered near $63,150 before slipping back toward $62,800 as traders reassessed the risk of higher-for-longer interest rates.
 The PPI report measures wholesale inflation, making it an important signal for future consumer prices. Producer prices rose 1.1% in May after a revised 1.1% increase in April, creating back-to-back monthly increases that annualize at a much higher pace.
 Market participants focused on the headline number because it reached its highest level since November 2022. Some analysts noted that PPI inflation is now near pandemic-stimulus-era levels, while rate hike expectations rose after the data.
 The reaction in Bitcoin was limited compared with earlier macro selloffs. BTC initially dipped by about 0.5% after the release and later stabilized near the $62,800 area, suggesting that the market had already priced in part of the inflation risk after the prior CPI report.
 <h2 id="fed-rate-hike-expectations-surge-after-higher-than-expected-ppi">Fed Rate Hike Expectations Surge After Higher Than Expected PPI</h2>
 Hotter PPI inflation can pressure Bitcoin because it raises the chance that the Federal Reserve keeps policy tight or considers rate hikes. Higher rates usually reduce liquidity and make risk assets less attractive compared with cash and bonds.
 The headline PPI reading was above expectations, but the core measure was steadier. Core PPI, which excludes food and energy, came in at 4.9%, matching April’s revised level. That mix suggests that energy-related pressure remains a key factor, while broader price pass-through may be partly absorbed by business margins.
 Traders still reacted to the possibility of tighter policy. According to Polymarket, there was a rise in the odds of a Fed rate hike in 2026 to nearly 51% after the PPI data. That shift contrasts with earlier expectations this year, when investors were focused on potential rate cuts.
 Source: <a href="https://x.com/thechartdr/status/2065062080575639933?s=20" rel="noopener noreferrer nofollow">X</a>
 Bitcoin has often performed better when markets expect easier liquidity conditions. When inflation data points to renewed rate pressure, BTC can lose momentum even if long-term demand remains intact.
 <h2 id="bitcoin-price-forecast-as-focus-turns-to-60-000-support">Bitcoin Price Forecast As Focus Turns to $60,000 Support</h2>
 Bitcoin is trading inside a narrow technical range, with resistance near $63,000 and support near $61,000. A decisive hourly close outside that range could set the direction for the next major move.
 Traders are watching a symmetrical triangle pattern on the BTC chart. A breakout above $63,000 could open the way toward liquidity between $64,000 and $66,500, where short positions may be vulnerable. A breakdown below $61,000 would shift attention back toward the $58,000 to $60,000 zone, where long-side liquidity is concentrated.
 Source: <a href="https://x.com/alicharts/status/2064995552865952175?s=20" rel="noopener noreferrer nofollow">X</a>
 Bitcoin spot ETFs also showed pressure, recording total net outflows of $214 million. Grayscale Bitcoin Mini Trust ETF BTC posted the largest single-day net inflow at $17.5167 million, but the broader ETF flow remained negative.
 The next market move will likely depend on whether BTC can hold above $62,000 after the PPI reaction. A sustained recovery above $63,000 would improve short-term momentum, while a failure to defend $61,000 could bring the $60,000 support zone back into focus.
</div>

Bitcoin Price Today: BTC Retraces After May US PPI Hits 4-Year High of 6.5%

Table of Contents

Coinpaper.com

Other articles published on Jun 11, 2026

Join our free newsletter for daily crypto updates!