Underlying inflation came in soft — Strip out volatile energy and core wholesale inflation rose at the low end of forecasts — a sign May’s hot headline was an oil-driven story, not a broad price re-acceleration — and crude itself eased as Middle East tensions cooled.
Inflation cooled more than expected: prices fell on the month, the most since 2020, and the pressure for a July rate hike eased. But nearly all of the relief came from energy, and oil has already turned back up.
Tomorrow brings the Consumer Price Index, the main US inflation gauge and the number that moves risk assets most. With oil climbing into the print, the engine holds any extra buy until the data clears.
The signal turned favorable with real substance: spot Bitcoin ETFs saw net inflows for the first time in weeks, while the crowd is still at extreme fear. Buyers returning before the mood lifts is the setup patient investors watch for. Next week's inflation data is the test.
The 0-to-100 crypto sentiment score in plain English: what it measures, how to read it without fooling yourself, how it has behaved in 2026, and when to tune it out.