#CryptoCPIWatch

🚨 #CryptoCPIWatch: Market Reacts to U.S. Inflation Data

📉 Bitcoin Price Update

Bitcoin has dipped below $102,400 amid profit-taking ahead of the upcoming U.S. inflation data. CoinGape+3@EconomicTimes+3Investopedia+3

📊 U.S. CPI Data

The Consumer Price Index (CPI) for April showed a 0.2% increase, bringing the annual inflation rate to 2.3%, slightly below expectations. Reuters

📈 Market Sentiment

The softer-than-expected inflation data has lifted investor sentiment, with the U.S. dollar weakening and stock futures rising. Reuters

🔍 Impact on Crypto

Cryptocurrency markets are closely monitoring the CPI data, as it may influence Federal Reserve monetary policy decisions. Reuters+1CoinGape+1

Stay tuned for further updates as the situation develops.

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