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The_Pro
𝗠𝗮𝘆 𝗖𝗣𝗜 𝗖𝗼𝗿𝗲 𝗕𝗲𝗮𝘁𝘀 𝗮𝘁 𝟬.𝟮% 𝗮𝗻𝗱 𝗚𝗶𝘃𝗲𝘀 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗮 𝗙𝗹𝗼𝗼𝗿
𝑩𝒖𝒕 𝑰𝒏𝒔𝒕𝒊𝒕𝒖𝒕𝒊𝒐𝒏𝒂𝒍 𝑫𝒆𝒎𝒂𝒏𝒅 𝑱𝒖𝒔𝒕 𝑯𝒊𝒕 𝑰𝒕𝒔 𝑳𝒐𝒘𝒆𝒔𝒕 𝑷𝒐𝒊𝒏𝒕 𝑺𝒊𝒏𝒄𝒆 2020
May CPI landed exactly at the 4.2% headline consensus but delivered a genuine surprise on core — 0.2% monthly against a 0.3% forecast — suggesting energy is driving the surge while the broader economy holds. Bitcoin stabilized near $61,000, with the worst-case scenario of broadening inflation now off the table heading into Warsh's first FOMC meeting June 17.
But the institutional picture beneath the price action is the most sobering of the cycle: net institutional buying across ETFs, treasuries, and miners just hit a record low of -464% — a level not seen since 2020.
CoinShares says it's a sentiment shock, not a structural break. GRAM officially replaces TON on June 15, and Russia's Duma is advancing crypto tax reform that could formalize one of the world's largest mining economies.
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