SpaceX IPO Blasts Off as Bitcoin ETF Selling Eases — Did Crypto Markets Bottom?

Crypto staged a relief rally after two weeks of vicious Bitcoin ETF selling slowed, suggesting sellers had reached exhaustion.

The Rundown

• Hot CPI and a Sidelined Fed Keep Crypto on the Back Foot
• Trump’s On-Again, Off-Again Iran Deal Whipsaws Risk Assets
• Two Weeks of ETF Outflows Finally Break — Is This the Bottom?
• Institutions Accumulate While Retail Capitulates
• On the Radar This Week

The week opened with stagflationary clouds overhead. The May CPI showed inflation rising to 4.2%, a 3-year high —

— driven by a 23.5% surge in energy prices tied to the war in Iran. That single data point repriced the rate-cut narrative. Prediction markets now put the odds of the Fed holding rates in the 3.50%–3.75% range at roughly 99% for the June 16–17 FOMC meeting.

Goldman Sachs even pushed its first-cut forecast out to late 2027. Thanks to the energy price shock and its impact on the US economy,

has fewer tools at hand. Rising energy prices may drag headline inflation higher in the coming months.

A hot CPI and PPI print naturally spilled into crypto markets. With the rate-cut tailwind priced out, Bitcoin’s risk premium stayed elevated. Bitcoin (