Bitcoin jumps above $62,000 after CPI report gives traders room to defend $60,000
Bitcoin climbed above $62,000 after US inflation data came in largely as expected, easing fears of a deeper drop toward $60,000. May CPI rose 4.2% year over year and core CPI 2.9%, leaving the market focused on whether inflation is still being driven mainly by energy or is becoming more persistent. Bitcoin had already been under pressure for weeks, hit by weaker ETF demand, higher yields, reduced risk appetite, and heavy liquidations that cut leverage. Options trading had also turned defensive before the data. Because of that setup, the lack of a major inflation surprise sparked a relief rally. The move is not a clear trend reversal. Bitcoin remains below earlier monthly highs, and a stronger recovery likely needs firmer ETF inflows, less bearish positioning, and improved broader market sentiment. The next resistance area is around $64,000.
