CoinVoice has recently learned that, according to The Block, data from the U.S. Department of Labor shows that the April CPI rose by 2.3% year-on-year, lower than the expected 2.4%, while core CPI remained at 2.8%. The overall inflation rate has hit a four-year low and has decreased for three consecutive months. As a result, cryptocurrency-related stocks performed strongly:
Coinbase (COIN) stock price rose 16% in a single day to $240. Stocks of mining companies like Marathon Digital also rose, with both the S&P 500 index and the Nasdaq index showing increases.
Despite the overall cryptocurrency market dropping 3.4% on that day (Bitcoin traded at $103,200), Nansen analyst Aurelie Barthere pointed out that blockchain stocks may be undergoing a "catch-up rally" as trade tensions ease and market risk appetite gradually recovers. 21Shares expert David Hernandez believes that the easing of inflation may impact the Federal Reserve's interest rate decision in June. [Original link]
