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Analysis: US inflation has cooled for three consecutive months, while Crypto Assets concept stocks have risen against the trend.
According to ChainCatcher news and reported by The Block, the U.S. Department of Labor data shows that the April CPI rose 2.3% year-on-year, lower than the expected 2.4%, while the core CPI remained at 2.8%. The overall inflation rate hit a four-year low and has decreased for three consecutive months. As a result, stocks related to Crypto Assets performed strongly:
Coinbase (COIN) stock price rose 16% in a single day to $240. The stock prices of mining companies, including Marathon Digital, have risen in unison. The S&P 500 index and the Nasdaq index both show a pump.
Despite the overall decline of 3.4% in the Crypto Assets market on the day (Bitcoin at $103,200), Nansen analyst Aurelie Barthere pointed out that blockchain stocks may be undergoing a catch-up rebound as trade tensions ease and market risk appetite gradually recovers. 21Shares expert David Hernandez believes that easing inflation may influence the Federal Reserve's interest rate decision in June.