Riya Sehgal, Research Analyst, Delta Exchange
Bitcoin is trading near $62,100 after defending the $60,000-$61,000 demand zone, while Ethereum is stabilising around $1,640 after a sharp drawdown. The recovery in both assets remains tentative. BTC is still trading close to its 20 EMA but below the 50, 100 and 200 EMA on the 4-hour chart, keeping the broader short-term structure weak. For Bitcoin, $63,800 is the key level to reclaim; acceptance above this zone can open a recovery toward $67,000-$69,000, while a break below $60,000 may expose $59,000 and $57,500. ETH has a similar setup, with price still below the 20 EMA near $1,647 and the 50 EMA around $1,705. A move above $1,705 is needed to improve momentum, while $1,570 remains the critical downside level.
The latest U.S. CPI print came broadly in line with expectations, which helped risk assets avoid a sharper sell-off, but inflation remains high enough to keep rate-cut expectations under pressure. Bond market repricing is also becoming a key headwind, as elevated Treasury yields strengthen the dollar and make safe-yield alternatives more attractive.
ETF flows continue to reflect caution, with June 9 seeing outflows from both BTC and ETH spot ETFs. On-chain signals also suggest stress, as whale capitulation and pressure on short-term holders indicate that the market may still be going through a final liquidity test before any durable recovery.
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