The U.S. Consumer Price Index (CPI) data for May revealed inflation remained at 0.3%, surpassing market expectations. This data, eagerly awaited by investors, indicated a yearly CPI decrease to 3.3% from 3.4% in April.
Core CPI, excluding food and energy, also showed a decline to 0.2% in May. This cooling inflation has sparked optimism in the market, leading to a 3.60% rally in Bitcoin prices, now at $69,411.30.
Additionally, the altcoin sector saw gains, with Ethereum rising 3% and Solana up 4%. The market now focuses on the Federal Reserve’s interest rate decision and the upcoming U.S. PPI data.
This event highlights the strategic impact of economic indicators on cryptocurrency markets and investor sentiment.
