In May, the US monthly CPI increased by 0.1%, below the expected 0.3%. The annual CPI was announced at 2.4%, up from the previous 2.3%.

Bitcoin is trading at $109,717.

Analysts had expected the May CPI to increase by 2.5% month-over-month and to remain at similar levels year-over-year. The previously released CPI for the prior month was 2.3%.   

We will continue to provide updates with detailed analysis and market reactions.   

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Higher-than-expected inflation data could weaken expectations of a rate cut ahead of the Federal Reserve’s June 17–18 meeting. A 0.3% increase in core inflation in May would be the highest monthly gain in the past four months. In April, this rate was 0.2%. Alongside CPI and PPI figures, the crypto market is also awaiting key decisions on the Crypto Market Structure Bill, a potential spot Litecoin ETF, and a roundtable discussion on DeFi hosted by the SEC. 

The Producer Price Index (PPI) data, to be released Thursday, may directly influence Fed decisions. If actual inflation figures rise, the likelihood of a Fed rate cut could decrease. 

Calm in the Crypto Market, But Critical Developments Ahead 

Bitcoin and Ethereum continue to exhibit low volatility. According to Greeks.Live, Bitcoin’s short- and mid-term implied volatility has dropped below 40%, while Ethereum’s stands around 65%. This decline suggests the market does not anticipate major short-term moves. 

However, the crypto market faces critical developments this week. Today, on June 9, the US Securities and Exchange Commission (SEC) will hold a roundtable titled “DeFi and the American Spirit,” discussing the relationship between decentralized finance and the national economy. 

The US House of Representatives will also review the Crypto Market Structure Bill, which aims to establish a legal framework for digital assets. Meanwhile, the SEC is expected to delay its decision on the Litecoin Spot ETF application on June 10. 

In addition, Michael Saylor’s company plans to raise $1 billion through a stock offering to increase its Bitcoin holdings. 

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