- The recent slowdown in inflation triggered a surge in the crypto market.
- Bitcoin broke the $28,000 mark, and Ethereum followed closely.
- Despite lower food prices, core inflation remains high.
As the US economic landscape shifts, crypto traders keenly observe the Consumer Price Index (CPI). This key inflation figure has major implications for Federal Reserve policy, impacting the entire crypto market.
In April, inflation slowed for the tenth straight month, according to the data the Bureau of Labor Statistics released on Wednesday, May 10.
Bitcoin Breaks $28k on CPI Figures
The news of a slowdown in inflation created positive momentum in the crypto markets. Bitcoin, often a leading indicator for the crypto market, broke the $28,000 mark on this news.
This bullish trend wasn’t confined to Bitcoin alone. Many major tokens experienced a surge, painting the market green over the past 24 hours….
