(CNBC) Bitcoin jumped with stocks on Wednesday after the April consumer price index showed inflation eased from the previous month. The price of the cryptocurrency rose more than 7% to $66,124.59, according to Coin Metrics, and its best day since March 25. It also traded above its 50-day moving average for the first time since April 13. “The slightly lighter than expected CPI number modestly increased the chance of a rate cut, which is still a strong influencer to bitcoin price.
Bitcoin has it’s best day since March following cooler April inflation reading
This entry was posted in Syndicated. Bookmark the permalink.
