analysis: US inflation surpasses expectations, dampening rate cut hopes; Bitcoin retreats, crypto market under pressure

Odaily Planet Daily News The latest US inflation data rose more than expected, weakening market expectations for a Fed rate cut this year and triggering a broad pullback in risk assets. Following the data release, the market anticipates the Fed will maintain interest rates in the 3.50%–3.75% range at its June 17 meeting and may keep them unchanged through the end of the year.

Impacted by the data, Bitcoin fell short-term, trading around $80,700–$80,814, with a 24-hour decline of approximately 1.2%. US stock index futures weakened simultaneously, and the yield on the 10-year US Treasury note rose to 4.44%. In commodities, WTI crude oil increased by about 3% to $101, further heightening market concerns about persistent inflation.

Analysts point out that against the backdrop of higher-than-expected inflation and strengthening energy prices, short-term market risk appetite is being suppressed, and both crypto assets and equity markets face repricing pressure. (CoinDesk)