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The June CPI print pulled hike odds from 43% to 13%, with analysts now watching the September FOMC meeting for further cues on positioning.

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The cryptocurrency market posted broad gains over the last 24 hours after the latest US Consumer Price Index (CPI) report showed inflation slowed more than economists had expected, boosting hopes that the Federal Reserve could begin easing monetary policy in the coming months. Data released by the US Bureau of Labor Statistics showed annual inflation eased to 3.5% in June, down from 4.2% in May. The reading also came in below the market consensus forecast of 3.8%, marking the first decline in inflation in five months. Meanwhile, core CPI, which excludes the more volatile food and energy categories, fell to 2.6%, beating expectations of 2.8%.

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Institutional interest in crypto ETFs may signal renewed confidence, but macroeconomic volatility could still disrupt this emerging trend. Bitcoin, Ethereum spot ETFs see $239M in net inflows on July 14.

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Morgan Stanley has filed an amended S-1 registration statement for its Ethereum and Solana ETFs. The filings indicate the Wall Street giant is moving closer to launching new crypto ETFs following its spot Bitcoin ETF debut this year, claims a Bloomberg ETF analyst.