Market slid as the U.S. session opened, with BTC giving up its $110K mark. As of now, $BTC is trading at $108,661 and $ETH at $2,771, with Bitcoin dominance at 64.14%.
U.S. CPI for May came in below expectations across the board—headline CPI rose 0.1% MoM (vs 0.2% expected) and 2.4% YoY (vs 2.5%), while core CPI rose 0.1% MoM (vs 0.3%) and 2.8% YoY (vs 2.9%). The softer inflation print has raised market expectations for a Fed rate cut in September (now at 59.7%). See below for more.
A few other headlines include: GameStop plans a $1.75 billion convertible senior notes private offering; payment company Stripe to acquire crypto wallet provider Privy; and the U.S. Senate voted 68–30 to invoke cloture on a substitute amendment to the GENIUS stablecoin bill.
During the last 24 hours, the top three gainers were $KAIA, $A, and $EOS, while the top three losers were $GRASS, $PENDLE, and $AERO.
