Bitcoin surged over 5% following the release of May’s U.S. inflation data, which suggested a slowdown in price increases. The Consumer Price Index (CPI) reported a year-on-year increase of 3.3%, slightly lower than anticipated, igniting optimism among investors, particularly in the volatile realm of cryptocurrencies.

The U.S. Bureau of Labor Statistics revealed that the CPI for May maintained a steady month-on-month rise, culminating in an annual inflation rate of 3.3%.&middot

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