Bitcoin (BTC) saw a slight increase in value after US inflation data for April came in at 4.9%, slightly below the expected 5.0%. This suggests that US inflation is continuing to decrease, in line with predictions from the Federal Reserve and external sources. Financial commentators are now expecting a pause in rate hikes next month, which would be good news for risk assets, including crypto.
However, investment research platform Game of Trades warned that the US economy is not yet out of the woods, as the decrease in inflation is mainly driven by the flexible part of the CPI, while the sticky part still remains extremely elevated.
