Bitcoin (BTC) is currently bullish today, here are some reasons why ¹:

- Bitcoin price rallied to $65,150 after the Wall Street open on May 15, as markets reacted to the Consumer Price Index data and its implications for potential interest rate cuts in 2024.

- Data from Cointelegraph Markets Pro and TradingView revealed that the BTC price rose 6.61% from a low of $61,299 to an intraday high of $65,129 on May 15.

- Several key factors are propelling Bitcoin’s price upward today, including a lower-than-expected CPI print, have further boosted investor confidence.

- Bitcoin price reacted to the April Consumer Price Index (CPI) print, which came in lower than expected at 0.3%, according to data from the U.S. Bureau of Labor Statistics (BLS). The year-on-year rate climbed to 3.2%, compared to the previous year’s rate of 4.7%.

- Spot Bitcoin ETF inflows turn positive. Positive inflows into the spot Bitcoin ETFs are also driving the latest bullish sentiment from investors. The U.S. spot Bitcoin ETFs returned a daily net inflow of $100.5 million on May 15.