Bitcoin Holds Steady Above $64,000

In April, annual inflation in the U.S. slowed to 3.4%, aligning with expectations. Monthly price growth was 0.3%, while the core inflation rate, which excludes food and energy prices, also rose by 0.3%. Experts had anticipated this deceleration in price growth.

The market reacted positively to the data: bond yields declined, S&P 500 futures rose, and the dollar weakened. The release of macroeconomic data spurred growth in Bitcoin and Ethereum prices. Bitcoin stabilized above $64,000, while Ethereum neared the $3,000 mark.

Analysts cautioned that the Federal Reserve’s data could provide some hope that inflation is resuming its downward trend. In the near term, the price of “digital gold” may see further increases.