Bitcoin rises despite US inflation hitting 3-year high: Where will BTC price go?

Written by Yashu Golastaff writerReviewed by Allen Scottstaff editorWritten by Yashu Golastaff writerReviewed by Allen Scottstaff editorBitcoin rises despite US inflation hitting 3-year high: Where will BTC price go?MarketsPublishedJun 10, 2026BTC's rebound shows signs of weakening under a string of technical resistance levels, raising the odds of a dip below $60,000 in June.Bitcoin (BTC) erased its intraday losses and rose by around 2.5% to $62,410 immediately after the US inflation report, even as the headline Consumer Price Index (CPI) hit its highest level in more than three years.BTC/USD hourly chart. Source: TradingViewKey takeaways:Bitcoin rose as the latest US CPI reading matched economists' expectations.BTC still faces short-term downside risks as it trades below strong resistance levels. May US inflation matched expectationsThe US CPI rose 4.2% year over year in May. On a monthly basis, headline inflation increased 0.5%, while core inflation, which excludes food and energy, rose 2.9% annually and 0.2% month over month.US headline and core CPI. Source: Bureau of Labor Statistics/Yahoo FinanceThe headline jump came largely from higher energy and gasoline prices, as renewed Middle East tensions lifted oil prices and reignited inflation concerns.At first glance, the report looked bearish for Bitcoin. Higher inflation usually reduces the odds of Federal Reserve rate cuts, keeps Treasury yields elevated, and tightens financial conditions. That typically pressures risk assets, including crypto.But BTC rallied because the inflation print did not come in worse than feared.Economists had already expected headline CPI to hit 4.2%. The actual number matched that forecast, removing the risk of a hotter surprise.Traders did not see the report as strong enough to force the Fed into a tougher stance, giving them room to buy risk assets again.That gave Bitcoin the chance to bounce from long-term support zones, including the 200-week exponential moving average (200-week …

Bitcoin rises despite US inflation hitting 3-year high: Where will BTC price go?

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