As we step into June, major cryptocurrencies like Bitcoin, Ethereum, Solana, XRP, and Shiba Inu are anticipated to experience significant price increases. The crypto market recently withstood a massive $8.2 billion selloff in Bitcoin and Ethereum options, setting the stage for potential breakouts.

One of the key factors influencing this positive outlook is the latest US core PCE inflation data, which rose by just 0.2% in April compared to a 0.3% rise in March. This is the slowest increase so far in 2024 and was below the market's expectations of a 0.3% rise. The headline and core PCE inflation figures met expectations, further suggesting a cooling trend in inflation.

The recent expiration of crypto options and the PCE inflation data were significant barriers that had previously hindered Bitcoin's price rally to new highs. In addition, the CPI inflation rate has also decreased to 3.6%, providing further support for the crypto market.

Following the release of the PCE inflation data, the US dollar index (DXY) fell to 104.20, suggesting a potential shift towards a less restrictive monetary policy by the Federal Reserve. The US 10-year Treasury yield also dropped to 4.504% from a recent high of 4.61%, as markets interpreted the data as a sign of a more dovish Fed approach.

Historically, Bitcoin prices tend to move inversely to the DXY and Treasury yields. Therefore, a decrease in these macroeconomic indicators often leads to a rebound in the crypto market. The current data points towards the possibility of a rate cut by the Fed, although market indicators still suggest only one rate cut in 2024.

Renowned trader Peter Brandt predicts that Bitcoin is forming an early cup-and-handle pattern, with the "cup" already completed and the "handle" yet to form. He suggests that a breakout could occur soon after this pattern is fully developed.

Ethereum has been trading sideways recently, with prices fluctuating between $3,721 and $3,843. The trading volume has dropped by 40% over the past 24 hours, indicating reduced trader interest. However, derivatives traders have set a target price of $5,000 for Ethereum by the end of June.

XRP and Solana are also expected to see price increases in June, driven by a market-wide rally reminiscent of pre-Bitcoin halving trends. XRP recently surpassed $0.70, and Solana has climbed above $200.

Meme coins like Shiba Inu, Floki, and Bonk are predicted to rally as well. Shiba Inu, in particular, is likely to benefit from the overall enthusiasm for meme coins and its listing on Coinbase International Exchange's SHIB perpetuals.

In conclusion, with inflation cooling and macroeconomic factors aligning favorably, the crypto market appears poised for a significant rally in June. This optimistic outlook is bolstered by predictions of technical patterns and market behavior, suggesting that cryptocurrencies could see notable gains in the coming weeks.