Bitcoin is up $3,000 as U.S. CPI data reveals slower inflation in April
Bitcoin’s (BTC) price surged by $3,000 following the latest U.S. Consumer Price Index (CPI) report for April, which indicated a slowdown in inflation , boosting investor sentiment towards risk assets. The U.S. Bureau of Labor Statistics reported a rise in consumer prices by 3.4% in April year-over-year, a decrease from March’s 3.7%. This slower inflation rate has influenced a positive shift in market dynamics, with major stock indices reaching new highs and cryptocurrency prices, including Bitcoin and Ethereum (ETH), seeing significant upticks. Picks for you Crypto trader turns $155,000 to $1.16 million in two days 35 mins ago Buy signal? XRP whales stack $55 million in two weeks 2 hours ago 2 cryptocurrencies to reach $100 billion market cap in the first half of 2024 2 hours ago IShowSpeed's net worth revealed: How rich is the young streamer? 4 hours ago U.S. CPI chart. Source: Bureau of Labor Statistics This data, provided by ...