US Treasuries rallied after softer-than-expected June CPI data prompted traders to scale back Federal Reserve rate hike bets, impacting crypto and DeFi

Major cryptocurrencies have dropped by 2% or more in 24 hours as traders boosted bets of a July Fed rate hike.

Treasury yields increased Tuesday as expectations for more Federal Reserve interest rate hikes grow.

US CPI came in at 4% year-over-year with core CPI at 3%, both below expectations. Bitcoin rallied near $62,600 as rate cut odds increased ahead of the July

US Treasuries rallied after softer-than-expected June CPI data prompted traders to scale back Federal Reserve rate hike bets, impacting crypto and DeFi

June CPI fell 0.4% month-over-month, the steepest drop since April 2020, sending Fed rate-hike odds tumbling and easing pressure on crypto markets.

US CPI fell 0.4% in June, beating forecasts as energy prices dropped. Bitcoin rallied 2% to $63,400 as Fed rate hike odds declined sharply.

June 2026 CPI fell 0.4% month-over-month, easing rate-hike fears and lifting the S&P 500, Nasdaq 100, and crypto equities like Coinbase and MicroStrategy.

Fed rate hike bets were trimmed following the CPI data, while Fed Chair Warsh said the inflation data did not mean mission accomplished and he cautioned against overreading or…