Bitcoin's price rolled over to $61,233 on Wednesday, shedding 3% in just 24 hours, while the yellow metal, gold, slipped 2% to fall below $4,200 an ounce. These tandem declines come as traders brace for a critical U.S. inflation report, with speculation mounting that the Federal Reserve's hawkish stance under new Chair Kevin Warsh could persist, according to CoinDesk.

The anticipated inflation print has traders on edge, eyeing rate hikes that could sap the appeal of non-yielding assets like Bitcoin and gold. It's a familiar sight: a market punishing assets that don't pay interest as yields climb. CoinDesk noted that Ether dipped 3.4% to $1,625, with Solana dropping 4.1% to $64.24, mirroring broader market patterns.

Interestingly, XRP investors are capitulating, data tracked by Glassnode shows. Losses on XRP are mounting, marking a shift from the 2025 peak when profit-takers were dominant. This capitulation is seen as a classic sign of a nearing market bottom.

Across the globe, the ripple effects are tangible. South Korea's Kospi, heavily tied to the artificial intelligence surge, plunged 6.3%, dragging down the MSCI's broad Asia-Pacific equity gauge by 2.5%. On Wall Street, Nasdaq 100 futures pointed 0.8% lower, setting a grim tone for U.S. tech stocks.

The recent bounce in Bitcoin was less about fresh enthusiasm and more about a short squeeze, with CoinDesk reporting over $500 million in bearish positions liquidated. But spot demand didn’t materialize to support it. Diana Pires from sFOX noted that U.S. spot Bitcoin ETF outflows have dampened institutional interest, leaving rallies struggling.

Oil prices remained buoyant at around $92 a barrel, bolstered by new U.S. strikes on Iran, while the 10-year Treasury yield climbed to 4.54%. These dynamics suggest that the once-solid argument for Bitcoin as a macro hedge is weakening, especially if gold finds its footing while Bitcoin continues its descent.

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So, as the U.S. inflation numbers loom, the question isn't just whether Bitcoin will hold its ground, but if it's losing its hedge status altogether.

The relief rally that lifted crypto off last week's lows is unwinding alongside tech stocks and gold, with traders bracing for a US inflation print and a Warsh Fed that may stay hawkish. Updated Jun 10, 2026, 5:28 a.m. Published Jun 10, 2026, 5:22 a.m. 2 min read Make preferred on Bitcoin's BTC$61.412,97 bounce from last week's low is rolling over, and gold is going down with it. BTC changed hands at $61,233 on Wednesday, down 3% over 24 hours and 6.9% on the week, while gold fell 2% to below $4,200 an ounce. The market is betting on higher interest rates and is punishing assets like bitcoin and crypto that don't pay one. Ether (ETH) fell 3.4% to $1,625, and solana (SOL) dropped 4.1% to $64.24, according to CoinDesk data. XRP (XRP) lost 4.3% to $1.12, while BNB BNB$585,66 and DOGE$0.08351 each slid less than 3%. Hyperliquid's HYPE was the worst of the majors again, down 10.2% on the day and 21.3% on the week to $55.52, the highest-beta name in the group as risk came off.

South Korea's Kospi, the market most exposed to the artificial-intelligence trade through its chipmakers, tumbled 6.3%, leading a 2.5% drop in MSCI's broad Asia-Pacific equity gauge and its fourth loss in five days. Nasdaq 100 futures pointed 0.8% lower after a volatile Wall Street session. Brent crude traded near $92 a barrel as renewed U.S. strikes on Iran kept a bid under oil, and the 10-year Treasury yield rose to 4.54%.

Gold and bitcoin rarely fall in lockstep, as both are stores of value that pay no yield, so both lose their appeal when traders bet on higher rates, and that is what Wednesday's U.S. inflation report could force. A hot reading would harden the case for new Federal Reserve Chair Kevin Warsh to keep rates higher for longer, draining liquidity from the assets that ran hardest on cheap money. The bounce that ran into Monday was a short squeeze, not fresh buying, as over $500 million in bearish bets were liquidated, the highest such figure since April. Some market watchers say spot demand never showed up behind it.

"Buyers have stepped in after the move lower, but spot demand has yet to return in a meaningful way," said Diana Pires, chief business officer at sFOX, pointing to a run of U.S. spot bitcoin ETF outflows that has kept institutional money cautious. When new demand isn't broad enough to cover the selling, she said, rallies struggle to hold. Watch whether bitcoin can hold a bid through the inflation print or keeps trading tick-for-tick with the Nasdaq. If gold steadies and bitcoin keeps falling, the case for it as a macro hedge thins further.

XRP holders are capitulating, according to data tracked by Glassnode. That suggests a bottom may be near. Cosa sapere: XRP investors are increasingly selling at a loss, indicating most onchain transactions involve coins that are underwater. The ratio marks a sharp reversal from the 2025 peak, when profit-takers outnumbered loss-sellers by 50 to 1, and is widely seen as a classic sign of market capitulation. XRP is trading around...