Overview
- U.S. consumer prices rose 2.4 percent in May, below projections and raising hopes for Federal Reserve rate cuts later in 2025.
- Bitcoin briefly topped $110,000 before sliding to around $109,000 as markets reacted to the inflation data.
- The CME FedWatch tool indicates a 61 percent chance of a 25 basis point rate cut at the September FOMC meeting.
- Large Bitcoin transaction volumes surged 25.8 percent and daily active addresses climbed 13.4 percent after the CPI release.
- Analysts surveyed expect Bitcoin to reach new all-time highs, with forecasts ranging between $150,000 and $200,000 in this bull cycle.