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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 a report from 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 has hit a four-year low and has decreased for three consecutive months. As a result, Crypto Assets related stocks performed strongly:
Coinbase (COIN) stock price rose 16% in a single day to $240. Marathon Digital and other mining companies' stock prices rose in sync. The S&P 500 index and the Nasdaq index both showed a pump.
Despite the overall decline of 3.4% in the Crypto Assets market on that day (Bitcoin reported at $103,200), Nansen analyst Aurelie Barthere pointed out that blockchain stocks may be undergoing a catching-up rebound as trade tensions ease and market risk appetite gradually recovers. 21Shares expert David Hernandez believes that easing inflation may impact the Federal Reserve's interest rate decision in June.