Bitcoin Sees Weakness Ahead of CPI Report; Cardano, Solana Lead Fall in Majors

Inflation concerns have contributed to bitcoin’s fall in the past several weeks. In May, the U.S. Federal Reserve (Fed) hiked rates by the largest amount since 2000 as it seeks to tighten monetary policy following $2 trillion in stimulus in the past few years. This caused a drop in global stocks, which carried over to losses in bitcoin and other cryptocurrencies.