Woofun AI reports that Bitcoin has declined by over 2% in the past 24 hours, currently trading at approximately $62,380. Market expectations for a Federal Reserve rate hike in July have surged, with Fed Funds futures pricing in a 50% probability, a significant increase from roughly 10% just days prior.

This shift follows Fed Governor Waller's suggestion that officials may need to raise rates to manage price pressures. Consequently, the U.S. two-year Treasury yield has climbed to 4.29%, its highest level since early last year. Escalating U.S.-Iran tensions and rising oil prices, with WTI crude nearing $80 per barrel, have further intensified inflation concerns ahead of Tuesday's June CPI release.