May CPI report shows disinflation persisting as Bitcoin rises
Bitcoin is above $26k in the wake of new CPI numbers from the U.S.
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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.
