Bitcoin and stocks experienced significant price gains following the release of April inflation data from the United States.
The Consumer Price Index (CPI), which measures the average change over time in prices paid by urban consumers for a basket of consumer goods and services, showed that consumer prices rose 3.4% from last year.
The U.S. Bureau of Labor Statistics (BLS) reported that the year-over-year inflation figure was down slightly from March's 3.7% inflation rate.
Shortly after the BLS published its findings, the price of Bitcoin (BTC) hit $64,492, up 4% in the past 24 hours and 1% in the past hour, according to CoinMarketCap.
Likewise, Ethereum (ETH), the second-largest cryptocurrency by market cap, saw its price rise to $2,960.94, up 1.87% from the day before and 1% from an hour ago.
The BLS highlighted housing and gasoline as the main contributors to the inflation rate in April, reflecting ongoing economic pressures in these sectors.
Conclusion
The rise in Bitcoin and Ethereum prices is closely related to the release of U.S. inflation data, suggesting that investors may view cryptocurrencies as a hedge against inflation. Although inflation has declined from March, rising housing and gasoline prices remain the main drivers of inflation, which may affect consumers' spending power and economic expectations.
With the rise in Bitcoin and Ethereum prices, market interest in cryptocurrencies may further increase, especially considering their potential as an alternative investment option. However, investors should continue to pay attention to macroeconomic indicators and cryptocurrency market dynamics to make informed investment decisions. #美国通胀 #CPI #比特币 #以太坊
