Crypto Shrugs Off Hot CPI, Asia to Get Bitcoin ETFs Soon

Market Update Headline CPI came in at 3.5%, surpassing the anticipated 3.4%, while the core CPI matched last month's figure at 3.8%, also above the expected 3.7%. This surge was largely attributed to increases in auto insurance and shelter prices. Consequently, rates experienced a sharp rise, with the 10-year Treasury yield climbing by 20 basis points, a situation further intensified by a poor auction outcome today. The DXY has risen above 105, as major equity indices experienced declines, with the SPX down by 1.3% and the QQQ down by 1.2%. In contrast, the crypto market is quickly rebounding