Inflation Data Sparks Market Rally: Bitcoin Surges 3.6%

The June Consumer Price Index (CPI) reading of 3.5% was lower than expected, causing markets to react swiftly.

The probability of a Federal Reserve rate increase plummeted from 43% to just 13%, according to market expectations.

BTC rose 3.6% in the 24-hour period following the inflation report, reaching approximately $64,800.

Ether outperformed other major cryptocurrencies with a 5.3% single-day surge to nearly $1,880.