Bitcoin Rises on CPI Inflation Data As Experts Predict Miners Send BTC Parabolic

Bitcoin Rises on CPI Inflation Data As Experts Predict Miners Send BTC Parabolic


Bitcoin (BTC) has printed a sudden 7% bounce following data from the Bureau of Labor Statistics (BLS) revealing that inflation data cooled in April.

According to the BLS, the Consumer Price Index (CPI), which is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, increased by 0.3%, slightly less than what was forecasted.

Both Bitcoin and stock markets responded well to the data, with the S&P500 reaching new all-time highs above the 5,300 level, and BTC rebounding to $65,152.

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With Bitcoin’s halving now in the rearview, analysts are waiting to see how the BTC mining ecosystem will react to its rewards being cut in half, and the effect it could

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