Bitcoin prices rose after the April consumer price index showed inflation slowing from the previous month, CNBC reported. Bitcoin prices rose more than 5% to $64,910.57, its best performance since March 25, according to Coin Metrics. The slightly lower expected CPI number increases the likelihood of a rate cut, which remains a strong factor affecting Bitcoin prices, said Owen Lau, an analyst at Oppenheimer. The U.S. Department of Labor's Bureau of Labor Statistics reported on Wednesday that the Consumer Price Index, a broad measure of goods and services at the cash register, increased 0.3% from March, slightly lower than the Dow Jones estimate of 0.4%. Consumer prices are still 3.4% higher than a year ago. Although interest rate cuts remain in doubt, we may see a recovery in investors' risk appetite for risky assets such as cryptocurrencies, which will trigger more flows into Bitcoin spot ETFs.