#CryptoCPIWatch
#CryptoCPIWatch | CPI Data Fuels Crypto Optimism
The latest U.S. Consumer Price Index (CPI) data just dropped, and it’s bringing a wave of optimism to the crypto markets. April's YoY CPI came in at 3.4%, perfectly in line with analyst expectations. While not drastically lower, the steady inflation data has eased fears of aggressive rate hikes—something crypto investors are closely watching.
Market Reaction:
Bitcoin (BTC) bounced back above $63,000, showing strength at key support levels.
Ethereum (ETH) continues to consolidate above $3,000, preparing for potential upside.
Altcoins like Solana and Chainlink are seeing renewed momentum as market sentiment improves.
From a technical perspective, BTC’s rebound from the 50-day moving average, combined with rising RSI, suggests bullish continuation if macro conditions remain favorable. Traders are eyeing $65K as the next resistance level.
The CPI report underscores the growing correlation between macroeconomic indicators and digital asset performance. With inflation stabilizing and potential rate cuts on the horizon, the crypto market could be entering a renewed growth phase.
Follow #CryptoCPIWatch for real-time updates, technical analysis, and macro insights that matter to crypto traders, investors, and enthusiasts.
#CryptoMarkets #TechnicalAnalysis #Bitcoin #Ethereum #Inflation #Macroeconomics #CryptoTrends #Altcoins #BlockchainNews
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