Ethereum and Dogecoin lead the market as CPI data fuels rate cut expectations, Bitcoin stabilizes at $118,000.

Due to the June consumer price index (CPI) data in the United States showing a continued decline in inflation, expectations for a rate cut by the Federal Reserve in September have been boosted, keeping Bitcoin prices stable around $118,000.

The core CPI rose 0.1% for the fifth consecutive month, and despite generally weak stock markets, it has still uplifted optimism in the cryptocurrency market.

Eugene Cheung from OSL stated, "This data supports potential rate cuts, which may drive more funds into the cryptocurrency market." With the positive impact of spot ETF inflows and stablecoin notes, Ether has rebounded to $3,100, while Dogecoin has risen by 2.7% daily.

The U.S. spot Bitcoin ETF recorded a net inflow of $403 million, with BlackRock's IBIT attracting $416 million in funds.

Despite procedural setbacks for the GENIUS Act, analysts remain optimistic about Bitcoin's prospects for the second half of the year. #BTC #ETH #PiJS #pi