Finally, the brothers who have been looking forward to it for a long time have finally made it. The US Consumer Price Index (CPI) data exceeded market expectations. The CPI in April was 0.3% month-on-month, 0.1 percentage point lower than expected, and other data were in line with expectations. This undoubtedly gave a shot in the arm to the drowning Bitcoin market, and Bitcoin quickly rebounded to 64,000 points.
In this way, the core inflation rate has dropped to the lowest level since 2021. Is there any reason not to cut interest rates?
However, according to data from the FedWatch tool of the Chicago Mercantile Exchange Group, the probability of a recent interest rate cut in the market remained basically unchanged that day, with a probability of only 3.1% in June and 28.3% in July.
Brothers, hold on!
