Bitcoin Rises Amid Soft Core Inflation; Solana and Others Decline
Bitcoin experiences a modest increase following a favorable inflation report, according to CoinDesk. Core inflation remains low at 0.2% for the month, while Solana and other major cryptocurrencies see losses, emphasizing Bitcoin's relative strength in the current market conditions.
Bitcoin's price increases about 1.9% over 24 hours, reaching approximately $62,600, following a report indicating that core inflation, which excludes food and energy prices, rose just 0.2% for May. This figure was lower than the expected 0.3% and suggests contained underlying price pressures.
Despite Bitcoin's slight gain, other major cryptocurrencies face significant losses. Over the past week, Ether decreases about 6.5% to near $1,651, XRP falls by 7.5% to around $1.12, Solana drops 7.4% to about $65, and Dogecoin is down 7%. In contrast, BNB only sees a 2.1% decline.
This market behavior occurs ahead of the Federal Reserve's June 17 meeting, where discussions regarding interest rates are ongoing. With the headline inflation rising by 0.5% month-over-month and driven primarily by increases in energy prices, analysts are preparing for mixed signals from the Fed regarding monetary policy.
Market participants also watch the impending public offering of SpaceX, which is expected to start trading with a valuation of $1.8 trillion, as this could influence market sentiment and investment flows.
Summary based on original reporting by Shaurya Malwa at CoinDesk, originally published Jun 11, 2026. SolanaWire does not republish source content.
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