๐ Market Update | June 11, 2026
Hey everyone, I'm the People's Trader.
The crypto market is trying to bounce back this morning, but caution is still in the air. The U.S. inflation (CPI) released yesterday came in at 4.2%, above expectations โ the markets have absorbed the shock, but the Fed remains in a tightening mode, and outflows from Bitcoin ETFs continue to weigh heavily: -$2.97 billion since May 30.
Bitcoin is trading this morning around $62,639, up +2.30% over the last 24 hours. Holding above the support level of $61,658 is crucial to keep the bullish scenario alive. A double bottom is forming between $60,000 and $61,658, but this pattern is not yet confirmed. A daily close below $61,600 would invalidate this scenario and open the door towards $59,228.
On the Ethereum side, the price is around $1,636 under immediate resistance at $1,645. Weโll need to reclaim $1,687 to reignite the momentum. If selling pressure continues, the critical support at $1,605 must be defended; a break would pave the way towards $1,500.
Technical indicators confirm a historically oversold zone: the 14-day RSI for BTC is at 24.25, and the Fear & Greed index stands at 9/100. These conditions leave the door open for a technical rebound, but buyers still need to validate their presence in the market.
๐ To watch today:
Market reaction to the U.S. CPI data released yesterday at 4.2%
Reevaluation of the Fed's rate expectations with CME futures contracts no longer pricing in a cut before September
Behavior of equity and bond markets at the start of the U.S. session
These catalysts could trigger a spike in volatility for Bitcoin, Ethereum, and all risky assets throughout the day.
$BTC #macroeconomic $ETH
Hey everyone, I'm the People's Trader.
The crypto market is trying to bounce back this morning, but caution is still in the air. The U.S. inflation (CPI) released yesterday came in at 4.2%, above expectations โ the markets have absorbed the shock, but the Fed remains in a tightening mode, and outflows from Bitcoin ETFs continue to weigh heavily: -$2.97 billion since May 30.
Bitcoin is trading this morning around $62,639, up +2.30% over the last 24 hours. Holding above the support level of $61,658 is crucial to keep the bullish scenario alive. A double bottom is forming between $60,000 and $61,658, but this pattern is not yet confirmed. A daily close below $61,600 would invalidate this scenario and open the door towards $59,228.
On the Ethereum side, the price is around $1,636 under immediate resistance at $1,645. Weโll need to reclaim $1,687 to reignite the momentum. If selling pressure continues, the critical support at $1,605 must be defended; a break would pave the way towards $1,500.
Technical indicators confirm a historically oversold zone: the 14-day RSI for BTC is at 24.25, and the Fear & Greed index stands at 9/100. These conditions leave the door open for a technical rebound, but buyers still need to validate their presence in the market.
๐ To watch today:
Market reaction to the U.S. CPI data released yesterday at 4.2%
Reevaluation of the Fed's rate expectations with CME futures contracts no longer pricing in a cut before September
Behavior of equity and bond markets at the start of the U.S. session
These catalysts could trigger a spike in volatility for Bitcoin, Ethereum, and all risky assets throughout the day.
$BTC #macroeconomic $ETH