$BTC Inflation and Cryptocurrency Markets: Balance of Hopes and Risks in May 2025**

The expected slowdown in inflation in February (CPI down to 2.9% y/y) has maintained hopes for a softening of the Fed's policy; however, by May, the situation in the cryptocurrency markets shows a dynamic recovery. Bitcoin, despite its volatility, strengthened to **$104,358**, while Ethereum rose to **$2,638**, indicating a partial return of investor interest after the corrections at the beginning of the year.

**Key Pressure Factors:**

- **Trump's Tariffs** threaten to spiral inflation through rising import prices.

- **Stubborn Core Inflation** (3.2% y/y) limits the Fed's willingness to lower rates, supporting the strength of the dollar.