A pseudonymous wallet opened a 20x long position just before the CPI data landed.

US inflation has climbed above 4% for the first time in three years, driven largely by soaring energy costs linked to geopolitical tensions with Iran. The spike is putting pressure on households, outpacing wage growth and intensifying the economic debate ahead of midterm elections.

Headline inflation rose 0.5% in May month-on-month, down from 0.6% in April, while the headline annual CPI rate rose to 4.2% from 3.8%, in line with forecasts

JPMorgan's trading desk has a cheat sheet on how the S&P 500 will react to core CPI readings. Options markets are pricing in a 1% move in the key U.S. index on Wednesday. According to JPMorgan, a reading above 0.

The latest reading of the consumer price index showed inflation hit 4.2% in May from a year earlier, as surging oil prices affected the broader economy.

BTC USD faces major battles today as Iran tensions flare with Trump proportional strikes while hinting at a deal days away. CPI data will also drop today amid energy spikes. The escalation has already triggered over $400 million in liquidations,

Headline inflation breaching the 4% mark for the first time since 2023 will rightfully get a lot of attention, but investors will pay more heed to another measure of price increases. That's the so-called core rate that omits food and energy.

Wall Street drifted down in the red on Wednesday as the retail inflation came largely in line, while investors also assessed ongoing tensions in the Middle East.

Hot May inflation print could deepen crypto's pain, BlackRock warns.