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⚫️CRYPTORY MARKET at #Bitcoin bitcoin: will the bull market start soon?
Bitcoin price forecast after the release of major data on #инфляции in the US: will a bull market begin soon?
🔶️🔸️Bitcoin price rose 7.50%, reaching $66,350, after the latest US inflation data was published. The US consumer price index (CPI) rose 0.3% in April, lower than the 0.4% rise recorded in March and February.
🔶️🔸️This more modest rise suggests inflation is starting to slow, in turn bolstering financial market expectations for a possible interest rate cut in December.
🔶️🔸️What economic processes are affected by CPI data and Bitcoin?
CPI data is important because it indicates slowing inflation, which is a positive sign for the economy. The slower rise in consumer prices is consistent with other indicators that show retail sales remained flat in April, also indicating weaker domestic demand.
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