US producer price index (PPI) inflation surprised analysts, increasing slightly to 2.6% in May, exceeding expectations and signaling potential inflationary pressures despite cooling overall CPI figures. This unexpected rise has fueled speculation about a possible two rate cuts by the Federal Reserve this year, further bolstering market bets on monetary easing. However, financial giants like JPMorgan warn that escalating US-Iran tensions may push oil prices significantly higher, potentially exacerbating inflation and forcing a deeper economic contraction. In the crypto markets, concerns over potential recessionary pressures triggered some bearish sentiment, with options for Bitcoin (BTC) and Ethereum (ETH) facing expiry on Friday. Notably, analysts are concerned about massive liquidation in the short term as this rally appears to be nearing its peak.