Bitcoin Price Reacts as U.S. Inflation Rises to Highest Level Since May 2023

It appears that rising fuel costs and international geopolitical tensions are catching up with global economies, and the US is no exception.

 

 

The CPI numbers for April are out, indicating that inflation in the country has surged to 3.8%, the highest level since May 2023.

Core CPI inflation also rose above the expected 2.7%, reaching 2.8%.

Bitcoin’s price saw somewhat elevated volatility throughout the release, but the movement has so far been relatively negligible. At the time of this writing, BTC trades at slightly below $81K, down 0.5% for the day and mostly flat for the week.

Source: TradingView

It’s also worth noting that analystsat The Kobeissi Letterpointed out that the economy is currently experiencing inflation rates from the post-COVID era.

Meanwhile, the ceasefire between the US and Iran is also hanging by a thread. US President Donald Trumpsaid that it’s on “massive life support,” and called Teheran’s peace proposal “garbage.”

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