CPI Plays It Cool, Bitcoin Does the Same: $BTC Hugs $61.7K Like It's Awaiting Further Instructions 📊

Bitcoin rebounded from intraday losses on Wednesday after the U.S. Consumer Price Index report for May matched Wall Street forecasts, easing fears of an upside surprise that could have rattled risk assets. The U.S. Bureau of Labor Statistics reported that the CPI rose 0.5% month-over-month in May, in line with economist predictions, and climbed 4.2% year-over-year. The annual figure marked a sharp increase from April's 3.8% year-over-year reading.

Market data from TradingView shows $BTC trading at $61,783 at the time of writing, after briefly slipping below $61,000 earlier in the session. Despite the recovery, $BTC remained 1.32% lower on the 24-hour chart. Both traditional and crypto markets reacted positively to the data aligning with consensus estimates.

The Core CPI, which excludes food and energy prices, rose 0.2% in May, below the 0.3% economists had expected. Annual core inflation stood at 2.9%, in line with forecasts. Energy prices continued to weigh on the headline figure, remaining elevated amid ongoing tensions in the US-Israel-Iran conflict.

The release comes as traders monitor inflation trends for signals on the Federal Reserve's potential policy path, with the May CPI data providing no immediate surprises to disrupt current positioning across digital and traditional asset markets.