Cryptocurrency prices experienced an upward trend following the release of the Consumer Price Index (CPI) data, which showed a 4% rise in inflation over the 12 months through May. This outcome matched economists' expectations and instilled confidence in traders that the Federal Reserve might delay raising interest rates during its upcoming meeting. Bitcoin and Ethereum saw increases of 1.4% and 0.8% respectively, with altcoins like Polygon, Cardano, and Solana also showing gains. While rising shelter costs contributed to the overall increase in the index, energy-related prices declined. The regulatory challenges faced by Binance and Coinbase remained a concern for the market, despite the positive inflation data. The anticipation grew that the Fed would maintain current interest rates, as reflected in the CME Group's FedWatch Tool, which indicated a 97% chance of rate stability. The Fed's decision not to tighten monetary policy would be the first in 18 months. In addition to their impact on the economy, interest rate hikes influence asset prices, including cryptocurrencies. The U.S. Treasury Department's plans to issue more debt in the coming months could also affect risk assets. Market participants expect the Treasury's actions to drain liquidity and potentially result in a decline in prices. Chair Jerome Powell's comments and the subsequent Fed announcement are highly anticipated, as they will shed light on the central bank's stance on inflation and interest rates.