Live markets: Bitcoin holds $80,000 as stocks sink, yields rise on ugly inflation print
CoinDesk
Bitcoin maintains the $80,000 level despite stock market declines and rising yields following higher-than-expected inflation data.Summary
Core consumer prices rose by 0.4% in April, exceeding expectations and pushing headline CPI to 3.8%, the highest level since May 2023. This unexpected inflation data has shifted market sentiment, with participants now pricing in potential Federal Reserve interest rate hikes rather than cuts. Consequently, stock markets have trended downward, led by a 1.3% drop in the Nasdaq, while yields have increased. Despite the broader market volatility, Bitcoin remains stable at approximately $80,500, even as other major cryptocurrencies like ETH and XRP face declines.
(Source：CoinDesk)