The U.S. CPI scenario that could send the BTC price tumbling below $60,000: Crypto Daily
Summary
Bitcoin is near $61,000 and may be pushed lower or higher by the U.S. May CPI report due today. Inflation is expected to rise to 4.2% year over year, which would deepen fears of more Fed rate hikes and could pressure BTC, especially if price gains are broad-based across sectors rather than limited to energy. A broad hot print could push BTC below $60,000; a softer reading could spark a relief rally, with BTC already looking oversold. Volatility is likely to stay high. XRP has fallen below its 200-week simple moving average, a bearish signal that suggests a deeper downtrend and leaves downside risk toward about $0.95.
