BTC Price Plummets Amid Geopolitical Tension and Higher CPI

The price of Bitcoin (BTC) has dropped significantly in recent days, trading around $62,626.79. According to technical indicators, the cryptocurrency's Relative Strength Index (RSI) stands at 28.19, indicating oversold conditions.

This downturn can be attributed to a combination of macroeconomic pressures and shifting investor sentiment. The U.S. military strikes against Iran on June 10, 2026, and higher-than-expected U.S. Consumer Price Index (CPI) data released on the same day have contributed to this decline.

The CPI data showed a 4.2% year-over-year increase, reinforcing expectations of a 'higher-for-longer' Federal Reserve monetary policy, which negatively impacts risk assets like crypto. Additionally, U.S. spot Bitcoin ETFs have experienced persistent outflows, totaling an estimated $2.8 billion to $5 billion over the past few weeks.