Odaily Planet Daily report: U.S. inflation data came in higher than expected, weakening market expectations for Fed rate cuts this year and triggering a broad correction in risk assets. Following the data release, the market now anticipates the Fed will hold interest rates steady at 3.50%–3.75% at its June 17 meeting and likely maintain this level through year-end.
Affected by the data, Bitcoin experienced a short-term decline, trading around $80,700–80,814, down approximately 1.2% over the past 24 hours. U.S. stock index futures also weakened, while the U.S. 10-year Treasury yield rose to 4.44%. In commodities, WTI crude oil climbed about 3% to $101, further intensifying market concerns about persistent inflation.
Analysts note that, amid higher-than-expected inflation and stronger energy prices, short-term market risk appetite has been suppressed, putting re-pricing pressure on both crypto assets and equity markets. (CoinDesk)