Bitcoin was trading at $61,700 following the news, slightly down over the past 24 hours. May CPI rose 0.5% for the month of May and 4.2% year-over-year. Markets are pricing in no fed rate hike for the June 17 meeting. Bitcoin was trading around $61,700 following the report. U.S. inflation data came in as expected on Wednesday, reinforcing the view that the Federal Reserve will keep interest rates at 350-375 bps at its June 17 meeting but is likely to increase rates by 25 bps by the end of the y…
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