#CryptoCPIWatch
📉 U.S. Inflation Cools to 2.3% — Market Reactions Mixed
The U.S. CPI rose by 0.2% in April, bringing the annual inflation rate down to 2.3%, the lowest since early 2021 and below the expected 2.4%. This unexpected cooling has sparked optimism for potential Federal Reserve rate cuts later this year.
However, despite the softer inflation data, the crypto market experienced a modest pullback:
Bitcoin ($BTC ): Down 1.1% to approximately $103,092, trading within a 24-hour range of $100,814 to $103,955.
Declined 0.9% to around $2,539.
Overall Market Cap: Decreased by 1.4% to $3.32 trillion.
This reaction suggests that investors are cautiously optimistic, balancing hopes for rate cuts against ongoing macroeconomic uncertainties.