Inflation rate increases by over 9%, which is the highest it has been in four decades.The prices of BTC, ETH, SOL, DOGE, and ADA have all been affected by the news and the global crypto market temporarily went below $900B.Bitcoin maximalists say the asset may be used as a hedge against inflation, although it hasn’t in recent months.According to the Federal Reserve’s latest inflation report, the U.S. economy has 9.1% year-over-year inflation in June, which is the highest rate in 40 years. The measure rose by 1.3% from a month earlier, marking the largest month-on-month gain since 2005, as higher prices for fuel, housing, and food were taken into account.The release was followed by a reduction in the value of hazardous assets. Ethereum’s (ETH) price has dropped by 4.4% over the course of the last few hours, and the prices of Cardano (ADA), Solana (SOL), and Dogecoin (DOGE) have followed suit. According to statistics provided by CoinGecko, a majority of the top 100 cryptocurrencies by market capitaliz.Investing.com