Bitcoin Price Flat as US Reports 2.3% Inflation in April
Summary
Bitcoin remained stable on Tuesday, trading around $101,758 after new U.S. inflation data showed a 0.2% increase in the consumer price index (CPI) for April, with a 12-month rise of 2.3%. Core inflation also rose 0.2%, maintaining a 2.8% annual rate. The Federal Reserve held interest rates steady at 4.25%-4.50%, citing economic uncertainty from tariff hikes. The U.S. and China agreed to reduce tariffs, positively impacting U.S. equities, which saw significant gains. Analysts suggest Bitcoin's future movements depend on broader macroeconomic changes rather than inflation alone, with potential price ranges identified between $88,000 and $134,000 based on market conditions.
