Inflation remains lower than expected, but Bitcoin continues to trend higher through the chaos.

• U.S. inflation rose just 0.1% in May, easing market fears but staying above the Fed’s 2% target.
• Technical analysis showed that Bitcoin was likely to leap higher.

The recent inflation news was a slight positive for the market.

The Consumer Price Index (CPI) rose by 0.1% for the month of May, and the annual inflation rate was 2.4%.

Core CPI—which strips out food and energy—also increased 0.1%, landing below forecasts of 0.3%. Year-on-year, Core CPI stood at 2.8% against the 2.9% estimate.