Back to the list

Bitcoin Price: Will Softer CPI Send BTC To $70,000 In May?

source-logo  coingape.com 15 May 2024 17:35, UTC

The Bureau of Labour Statistics has released the Consumer Price Index (CPI) report this week, indicating that inflation is easing again in the US. According to the data, inflation grew slower in April, rising by 0.3% compared to 0.4% in the previous month, beating economists’ expectations of a 0.4% month-over-month growth. Bitcoin price, which hovered between $60,000 support and resistance at $64,000 for almost two weeks, gained growth against sellers, topping the $65,000 level.