The recent U.S. core CPI and PPI reports showed an unexpected surprise, with inflation cooling faster than anticipated. While the core CPI came in at 3.1%, slightly below the projected 3.2%, PPI also came lower than anticipated sparking fresh interest rate cuts hope by investors.
Despite cooling inflation data, BTC's price has struggled to regain momentum, slipping from over $84,000 to around $83,000 as traders weighed the impact of President Trump’s trade policies and broader macroeconomic uncertainty. Although it saw a huge rebound from recent major sell off which bottomed BTC's price to 77k.
Additionally, expectations of interest rate cuts and monetary expansion could provide a much-needed boost to Bitcoin and the broader crypto market, setting the stage for a potential recovery, as the markets now expect the Fed to deliver three rate cuts, potentially beginning from May-June Meeting. Further macroeconomic factors and more data on inflation will make things look better in forehead time.
As of now, at the time of writing this article, BTC is being trade around $84,300 and has seen a jump of 1.25% in its price over the time period of 24 hours and stands at a market capitalization of $1.67 Trillion.