Crypto Price Today (June 11): Altcoins Retreat as Bitcoin Pulls Back From $110K: SOL, XRP Look Strong 🚀🚀🚀🚀🔥💥U.S. Data Released: Bitcoin and Stocks Stay Steady!🚀🚀🚀🚀
After riding a quick bullish wave, the crypto market is turning cautious today as Bitcoin tops $110K and pulls back. Various altcoins have retreated from the daily high following a slight downturn in large-cap alts like Ethereum, Solana and XRP.
While analysts expect a new all-time high for Bitcoin price this week, the anticipation around a bullish reversal is spreading optimism among investors. However, the release of CPI data by FED is due today and it is expected to drive significant volatility into the market.
Marking a new weekly high at $110,330, Bitcoin has pulled back in a steady downward trend with it currently trading at $109,218 at the time of publication. The 24 hour trading volume for Bitcoin has declined 10.49% today, sitting at $51.57 billion, $SOL $XRP $BTC
Impact on the Crypto Market If the Federal Reserve stays cautious and maintains a hawkish stance, Bitcoin could face short-term pressure. Currently, Bitcoin is trading around $109,739, showing a slight increase over the last 24 hours.
Interestingly, altcoins like Ethereum, Solana, and XRP are also seeing a bullish surge, with all of them trading in the green today.
U.S. Data Released: Bitcoin and Stocks Stay Steady!🚀🚀🚀🚀🔥🔥💥
🚨 BREAKING 🚨
🇺🇸 US CPI DATA CAME IN AT 2.4%
EXPECTATIONS: 2.5%
THIS IS BULLISH 🔥 $BTC $ETH $PEPE
The U.S. Bureau of Labor Statistics has released the latest Consumer Price Index (CPI) data for May. The report shows inflation rising to 2.5% year-over-year, in line with forecasts. Despite this slight uptick, Bitcoin, stocks, and altcoins held their ground, showing no big moves.
Let’s take a closer look at what this means for traders and the economy.
CPI and Core CPI Numbers Confirmed The May Consumer Price Index (CPI) report revealed that inflation rose slightly compared to April, raising new concerns about the pace of economic cooling in the U.S.
Meanwhile, the year-over-year (YoY) headline CPI increased to 2.5% in May, up from 2.3% in April.
Similarly, Core CPI YoY, which excludes food and energy prices, ticked up to 2.9%, compared to 2.8% in the previous month. On a month-over-month (MoM) basis, the headline CPI held steady at 0.2%, while Core CPI MoM rose to 0.3%, up from 0.2% in April.
These small changes might not seem like much, but they could have a big impact on where the markets go.
What the Fed Will Do Next? With inflation staying moderate, the Federal Reserve is likely to keep interest rates unchanged at its June 12 meeting. According to the CME FedWatch Tool, the chance of a rate cut in July is now low, pushing expectations further into late 2025. Interestingly, prediction markets like Polymarket suggest there’s a 75% chance that the Fed might cut rates in 2025.
Market Sentiment and Technical Patterns: XRP has shown volatile price action recently, with some analysts noting bullish technical patterns like an asymmetrical triangle setup, suggesting a potential rally toward $3 in June 2025. Increased trading volume and open interest, which hit $4.76 billion recently, indicate strong speculative activity and investor confidence.
Fundamental Developments: Key events, such as anticipation around Franklin Templeton’s proposed spot XRP ETF decision expected by June 17, could be driving optimism. An ETF approval might attract institutional and retail investors, boosting demand. Additionally, Ripple’s partnerships, like the one with ArchaxEx to bring tokenized real-world assets to the XRP Ledger, could enhance its utility and appeal.
On-Chain Activity: Recent reports highlight significant on-chain activity, such as a $487 million XRP transfer by Ripple and a surge in payment volume to nearly 400 million transactions, which could signal growing network usage and investor interest.
Broader Market Dynamics: Posts on X suggest positive sentiment, with some users linking XRP’s potential to macroeconomic factors like cracks in the bond market or JPMorgan-related developments, though these claims lack concrete evidence and should be treated cautiously.
Speculative Hype: Analysts have predicted ambitious price targets, with some citing regulatory developments like the proposed “Genius Act” or ETF launches as potential catalysts for a surge to $8–$75, though these are speculative and not guaranteed.
The token has recorded a 4.25% increase in the past 24 hours, bringing its market capitalization to approximately $886.9 million. Supported by a notable rise in trading volume and improving momentum indicators, WIF is attracting the attention of traders seeking short-term volatility and potential breakout opportunities.
While price action remains below previous highs, the recent upward movement, coupled with increasing open interest and steady volume, signals improving sentiment. However, broader technical conditions suggest that sustained gains will depend on continued participation and key resistance levels being reclaimed.
🚀🚀🚀 WIF could see a price range of $1.80–$2.20 by the end of 2025, assuming moderate market stability and continued community engagement. This is a conservative estimate based on its 1.60% weekly growth scaling over six months.