The release of US inflation data saw Bitcoin skyrocketing to over $69,000

The highly anticipated US Consumer Price Index (CPI) data released today showed that the inflation rate for May remained unchanged at 0.3%, surpassing market expectations. Market observers eagerly awaited this crucial inflation data to gain insights into the current economic health and potential stance of the Federal Reserve's policy interest rate plans.

Following the release of the US nonfarm payrolls data last Friday, Bitcoin (BTC) maintained a downward trend, falling to the $66,000 level. However, ahead of the crucial Federal Reserve interest rate decision today, and before the release of key inflation data expected in the US, Bitcoin once again surged above $69,000.

Cooling CPI inflation sparks market optimism

The latest data shows that the US Consumer Price Index (CPI) for May remained unchanged at 0.3%, surpassing market expectations of a decrease to 0.1% for May. However, this story has a positive twist: although unchanged, the May CPI inflation actually decreased from 3.4% in the previous month to 3.3% on an annual basis.

The cooling of the US Consumer Price Index (CPI) inflation data has boosted investor sentiment. After the data was released, Bitcoin surged by 3.7% in the past 24 hours, with the current trading price of Bitcoin standing at $69,454.

At the same time, Ethereum has also seen an increase, rising by 2.82% in the past 24 hours. The current trading price of Ethereum is $3,623.

Last week's robust US employment data influenced investors' interest in risk assets, further boosting market sentiment. With the release of cooling inflation data, the market's attention is now shifting to the Federal Open Market Committee (FOMC) interest rate decision scheduled for later today, followed by a press conference by Federal Reserve Chair Jerome Powell.