Quick overview

Live BTC/USD Chart

---

Bitcoin steadied on Wednesday following the release of the U.S. Consumer Price Index (CPI) for May, while altcoins such as Dogecoin and Cardano led broader gains.

Market attention is now shifting to upcoming employment and wholesale inflation data, amid a backdrop of trade tensions and speculation surrounding the Federal Reserve’s next interest rate decision.

The cryptocurrency market saw upward movement midweek. Bitcoin (BTC) moderated its recent rally and stabilized around $109,800, according to Binance. Meanwhile, other digital assets posted gains of up to 5.7%, led by Hyperliquid, Dogecoin (+3.6%), and Cardano (+3.17%).

The rally follows the release of U.S. inflation data showing a smaller-than-expected increase in May, marking the fourth consecutive month of deceleration. This comes amid rising global trade tensions, spurred by a new wave of tariffs introduced by the Trump administration. The relatively modest rise in Bitcoin reflects that expectations of elevated inflation had already been priced in.

Focus Shifts to Jobs Data and Fed Decision

With inflation data now priced in, market participants are turning their focus to other key indicators this week, including initial jobless claims and the Producer Price Index (PPI), both due Thursday, June 12.

Looking ahead, attention will also center on next week’s Federal Reserve policy meeting. On Wednesday, June 18, the Fed is scheduled to announce its interest rate decision, followed by remarks from Chair Jerome Powell. The U.S. CPI remains a key lagging indicator and is closely tied to the Fed’s 2% inflation target. Today’s figures are likely to influence the FOMC’s stance.

Macro Uncertainty and Trade Tensions Support Bitcoin

Recent signs of a tentative trade agreement between the U.S. and China have lifted investor sentiment across financial markets. Although the deal still awaits final approval from Presidents Donald Trump and Xi Jinping, the partial truce has been seen as a positive development for risk appetite.

However, Trump is expected to maintain tariffs on Chinese imports near 30%, meaning trade barriers remain significantly elevated compared to pre-trade war levels. In this context, the World Bank has warned of a potential slowdown in the U.S. economy, with lingering inflationary pressures.

Despite these risks, investor interest in major tech stocks remains strong, helping sustain the performance of leading equity indexes alongside the crypto market’s strength.