Bitcoin and Ethereum jump 8% as inflation hits 3-year high

Bitcoin and Ethereum extended their rebound after a 3-year high inflation reading strengthened the case for crypto as a macro hedge, with ETH gaining 8.8% to $1,810.

Bitcoin and Ethereum rose after a 3-year high inflation reading, with ETH gaining 8.8% to $1,810 as of 10:17 a.m. ET on June 15.

"Winter is over. Welcome back to crypto Spring," Geoffrey Kendrick, global head of crypto research at Standard Chartered, said. "I think we have now seen the low in crypto asset prices for the cycle."

Ethereum traded at $1,810, up 8.8% in the past 24 hours and 7.6% over the past week, according to CoinGecko. The token remains 39.7% lower year-to-date and 28.7% below its level a year ago. Bitcoin changed hands near $66,367, recovering from 2026 lows of about $59,000 set earlier this month.

The inflation data, which hit a 3-year high on June 10, typically supports restrictive monetary policy — a headwind for risk assets. But crypto's rebound suggests the market may view digital assets differently this cycle. The next test for bitcoin is the $70,000 level, with resistance at $74,000, according to analysts.

U.S. spot bitcoin ETFs recorded about $86 million in net inflows on Friday, led by BlackRock's IBIT with nearly $58 million, according to SoSo Value data. The inflows marked a reversal after weeks of sustained outflows that saw $7.6 billion exit since October last year.

Michael Saylor's Strategy, the largest corporate holder of bitcoin with more than 800,000 coins, added almost 1,600 BTC for $100 million in its latest acquisition, showing continued institutional demand at current levels.

Ethereum's market capitalization stood at $218.4 billion, representing about 10% of the total crypto market. The token's 52-week high of $4,954 was set on Aug. 24, 2025, while its low of $1,507 was recorded on June 6, 2026 — just days before the current rebound began.

The Bank of Japan's decision to raise interest rates to 1% on June 16 — the highest level since 1995 — added macro complexity. Bitcoin initially dipped before recovering, as markets focused on the BOJ's dovish bond purchase stance.

Some traders remain cautious. Nic Puckrin, founder of Coin Bureau, said the bounce could be a "dead cat" unless bitcoin reclaims $70,000 and previous support levels like $74,000. "There's more weighing down the price than just the Iran war, and those headwinds remain," he said.

This article is for informational purposes only and does not constitute investment advice.