Insights

May CPI report shows disinflation persisting as Bitcoin rises

exchange68September 13, 2024

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Quick Take

The U.S. consumer price index report for May came in today with numbers lower than expected.
The trend of decreasing inflation persists in the U.S.; however, the core index remains persistently high.
Following the release of the CPI report, Bitcoin experienced a boost, increasing by 1.8% to a new value of $26,400.
Based on the current market reactions, there’s an 80% likelihood of a market “pause” being factored in.

Source: US economic Calendar — Source: US Economic Calendar

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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