Analysis: US inflation has cooled for three consecutive months, while Crypto Assets concept stocks have risen against the trend.

According to ChainCatcher news and a report from The Block, the U.S. Department of Labor data shows that the April CPI rose 2.3% year-on-year, lower than the expected 2.4%, while the core CPI remained at 2.8%. The overall inflation rate has hit a four-year low and has decreased for three consecutive months. As a result, Crypto Assets related stocks performed strongly:

Coinbase (COIN) stock price rose 16% in a single day to $240. Marathon Digital and other mining companies' stock prices rose in sync. The S&P 500 index and the Nasdaq index both showed a pump.

Despite the overall decline of 3.4% in the Crypto Assets market on that day (Bitcoin reported at $103,200), Nansen analyst Aurelie Barthere pointed out that blockchain stocks may be undergoing a catching-up rebound as trade tensions ease and market risk appetite gradually recovers. 21Shares expert David Hernandez believes that easing inflation may impact the Federal Reserve's interest rate decision in June.

BTC-0.32%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)