Bitcoin was waiting for cuts. Hot CPI inflation data just put hikes back on the table

A hotter-than-expected April CPI report showing a 3.8% annual increase has signaled that inflation remains sticky, forcing markets to reassess the likelihood of Federal Reserve interest rate cuts. This economic climate, characterized by rising Treasury yields and a stronger dollar, puts short-term pressure on Bitcoin and other risk assets. While macro headwinds persist, analysts note that Bitcoin has shown resilience, maintaining support above $80,000. Future price performance will likely depend on the balance between macro-level data—such as upcoming PPI reports—and sector-specific catalysts, including potential legislative progress with the CLARITY Act, a possible Strategic Bitcoin Reserve announcement, and continued spot ETF inflows.

(Source：CryptoSlate)