On June 10, the US equity markets plunged after the Consumer Price Index report (CPI), which showed that inflation rose 8.6% from one year ago to the highest level since 1981, crashed on the 10th of June. According to the latest data, inflation rose 8.6% from a year ago. This is the highest increase since 1981. Talks of inflation peaking were prematureBloomberg says that the market is being priced in by investors Key interest rate of 3.3%By the end of this year.

Continuing its tight correlation with the S&P 500, (BTC() fell below $30,000 in June 10. While analysts remain divided over the immediate price action, Fundstrat cofounder Tom Lee told CNBC in an interview that Fundstrat was still going to be around. The bottom may be reached for Bitcoin. However, Lee seems to have toned down his expectations as he said that Bitcoin could “remain flat for the year, possibly up.”