Highlights
This week could be big for the crypto market as the US reveals May’s data for the Consumer Price Index (CPI) and Producer Price Index (PPI). A Bloomberg report shows that the Trump tariff war has finally hit consumers, with inflation speeding up in May, as businesses pass on the costs to consumers. Apart from observing US CPI, PPI numbers, the cryptocurrency market awaits key decisions on the Crypto Market Structure Bill, spot Litecoin ETF, SEC roundtable on DeFi, and much more.
Bloomberg analysts estimate that US consumers could see a likely faster inflation in May, as uncertainties with the Trump tariff war force businesses to pass higher import duties to consumers gradually.
The Bloomberg economists also stated that the cost of goods and services, excluding volatile categories like food and energy, increased by 0.3% in May, the largest in four months, following a 0.2% uptick in April, according to the core consumer price index.
Furthermore, the core inflation numbers are likely to accelerate to 2.9% annually, while marking the first increase this year. Upcoming US CPI reports on Wednesday, followed by producer price (PPI) data on Thursday, will give Federal Reserve officials a clear picture of inflation trends and the impact of higher tariffs ahead of the crucial June 17-18 policy meeting. If actual inflation numbers come higher, the chances of Fed Rate cuts could probably fade.
As per data from Greeks.Live, implied volatility for Bitcoin (BTC) and Ethereum (ETH) continues to decline. BTC’s short- and medium-term implied volatility has dropped below 40%, while ETH volatility hovers around 65% across all major durations. This shows that analysts are not predicting much volatility in the short term despite the US CPI, and PPI numbers coming this week.
Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…
Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…
Nate Geraci, president of Novadius Wealth Management, has predicted that several crypto ETF filings could…
Bitcoin-backed stocks of Strategy can now be accessed on Robinhood. This represents a significant move…
The Bitcoin ETFs have seen a huge turnaround this week, recording their largest weekly inflows…
Shiba Inu’s Layer 2 network, Shibarium, has returned online following a $4 million exploit that…