U.S. inflation meets expectations, reinforcing Fed's higher-for-longer stance

Bitcoin was trading at $61,700 following the news, slightly down over the past 24 hours. What to know : May CPI rose 0.5% for the month of May and 4.2% year-over-year. Markets are pricing in no fed rate hike for the June 17 meeting. Bitcoin was trading around $61,700 following the report.