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Bitcoin erases CPI gains due to Trump's escalation of threats against Iran

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CoinWorld News: Bitcoin erased its gains after the threat escalation from Trump against Iran, falling below $62,000 following the CPI data release. According to market data, Bitcoin briefly climbed to $62,400 on June 10, as U.S. inflation data met expectations, easing concerns about rising price pressures. The inflation report showed that in May, the U.S. Consumer Price Index increased by 0.5% month-over-month, with an annual inflation rate of 4.2%, both in line with expectations. Although the latest CPI report initially supported risk assets, traders quickly shifted their focus to the escalating situation in the Gulf region. Trump posted a series of messages on social media criticizing Iran and hinting that military action could intensify. Market participants are increasingly linking potential long-term disruptions in the energy market with higher inflation risks, which could influence monetary policy expectations and put pressure on cryptocurrencies.
BTC-0.17%
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SucculentCross-Section
· 5h ago
Energy inflation expectations have surged, pushing the Federal Reserve rate cut dream even further away—and the crypto world is also being forced to eat dust.
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HeavyStakingOnASnowyNight
· 5h ago
Once it drops below 60k from 62,400, within just a few hours, leveraged long positions are littered with casualties.
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BribeCoffee
· 5h ago
Whenever Trump opens his mouth, the crypto world trembles; this linkage is even more sensitive than the U.S. stock market.
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0xPeachy
· 5h ago
Geopolitical turmoil causes BTC to kneel first, the $60k level is as fragile as paper.
View OriginalReply0
MossyLedger
· 5h ago
CPI clearly meets expectations, yet the market is deliberately pretending not to see—it’s the Middle East that’s really the boss.
View OriginalReply0

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