Svmuureports that the latest U.S. inflation data came in higher than expected, weakening the market's expectations for the Federal Reserve to cut interest rates this year and triggering a broad pullback in risk assets. Following the data release, the market now expects the Fed to keep the federal funds rate at 3.50%–3.75% at its June 17 meeting, possibly maintaining that level through the end of the year.
Influenced by the data, Bitcoin fell in the short term, trading around $80,700–$80,814, with a 24-hour decline of approximately 1.2%. U.S. stock index futures also weakened, while the yield on the 10-year U.S. Treasury note rose to 4.44%. Among commodities, WTI crude oil climbed about 3% to $101 per barrel, further fueling concerns over persistent inflation.
Analysts point out that against the backdrop of higher-than-expected inflation and strengthening energy prices, short-term market risk appetite has been suppressed. Both crypto assets and equity markets are facing repricing pressure. (CoinDesk)