On June 10, the US equity markets plunged after the Consumer Price Index report (CPI), which showed that inflation rose 8.6% to a year ago. This is the largest increase in inflation since 1981. 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 reports that investors price in the possibility of a recession. Key interest rate of 3.3%The year ends in December.

Continuing its tight correlation with the S&P 500, (BTCOn June 10, ), dropped below $30,000 Although analysts are divided on the future price action, Fundstrat founder Tom Lee stated in an interview to CNBC that he believes it will be a positive one. 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.”