Bitcoin (BTC) experienced a slight increase in price around the opening of Wall Street on May 10, following the release of better-than-expected United States inflation data. The BTC/USD hourly candle chart showed that the pair responded immediately to the April Consumer Price Index (CPI) results, reaching local highs of $28,328 on Bitstamp and consolidating just above the $28,000 mark. Despite the modest gains, some investment research platforms warned that the US economy is not yet fully recovered from the impact of Covid-19. On the other hand, a Federal Reserve rate hike pause could stimulate investor appetite for risk assets, including cryptocurrency.
Bitcoin cracks $28K on CPI amid warning US inflation ‘highly elevated’
