US Inflation Surprises: Crypto Sees Jump as Rates Remain In Doubt

U.S. inflation data showed a slight surprise, with the CPI rising to 2.4% in May – below expectations of 2.5%. This surprising development has sparked renewed speculation about Federal Reserve actions. Despite this positive news, Bitcoin and Ethereum prices surged on Wednesday after CME FedWatch showed increasing odds of two rate cuts this year. The market is now cautiously optimistic that the Fed will take action to curb inflation in the coming months. However, concerns remain surrounding potential economic weakness and continued uncertainty in the global landscape.