Another piece of news that has shocked the entire cryptocurrency circle!

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Cryptocurrency markets were weak in Friday trading as new data revealed that U.S. inflation is slowing.

Bitcoin's price fell 1.4% to $60,600; Ethereum fell 1.3%. Meanwhile, Solana fell 3.6%, almost offsetting most of its ETF-driven gains, even though 21Shares filed for it again today.

In terms of SOL prices, top gainers included Akash Network (AKT), up 7%, and Ethereum Name Service (ENS), up 5%. However, currencies such as Fetch.ai (FET), Athena (ENA), and Quant (QNT) fell 5% or more.

Inflation in May has fallen to the lowest annual inflation rate since May 2021, according to a report released by the Commerce Department on Friday.

The core PCE price index rose 0.1% in May, in line with Dow Jones' forecast. On an annual basis, the main PCE price index rose 2.6%. The PCE index is significant for traders because it is closely watched by the Federal Reserve and influences its interest rate decisions.

"Today's data could provide the FOMC with more confidence that the U.S. economy is still on a bumpy, anti-inflationary path," said Michael Brown, senior research strategist at Pepperstone.

"That said, the 'you can't swallow a summer' situation remains, so May's PCE data is unlikely to open the door (to rate cuts) alone, although it may indeed nudge that process slightly," he added.

Meanwhile, sentiment in the cryptocurrency market was also boosted by asset manager VanEck's application for a spot Solana ETF on Thursday.