US CPI Inflation Falls to 4.9%, Triggering Bitcoin Price Rise: Analysis and Insights

In April, the US Bureau of Labor Statistics reported that the annual US Consumer Price Index (CPI) inflation was 4.9%, which is lower than the expected 5%. The annual core inflation rate also dropped to 5.5% in April, down from 5.6% the previous month. Traders responded by anticipating that the US Federal Reserve will pause and reduce interest rates, causing the price of Bitcoin to start rising.