U.S. May CPI Falls Short of Expectations, Bitcoin Surges Before Sharp Pullback!
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The U.S. May CPI data fell short of expectations, leading to a volatile reaction in Bitcoin's price. Initially surging past $110,000, Bitcoin dropped nearly 2% to $107,320, raising concerns of a retest of the $100,000 level. Other cryptocurrencies like Ethereum, Ripple, and Solana also declined. The May CPI YoY was 2.4%, below the expected 2.5%, indicating easing price pressures and dampening expectations for a Federal Reserve rate cut in June.
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