Live updates: Soft core inflation gave crypto a bounce, but only bitcoin held up on the week

Bitcoin's price increased by 1.4% on Thursday, reaching $67,500, following the release of the May Consumer Price Index (CPI) data. The CPI report indicated that core inflation, excluding food and energy, rose by 0.2% month-over-month, a slower pace than the 0.3% economists had forecast. This cooler-than-expected core inflation data provided a boost to the cryptocurrency market, as it suggested a potential shift in the Federal Reserve's monetary policy stance. However, despite the initial positive reaction, most cryptocurrencies, including Ether and other major altcoins, experienced declines over the past seven days, with losses ranging from 6% to 8%. Bitcoin, in contrast, managed to maintain its gains for the week, demonstrating relative resilience compared to its peers. The broader market's muted response beyond Bitcoin highlights ongoing investor caution and the influence of specific economic indicators on digital asset valuations.