Bitcoin Price Jumps $3,000 in Response to Slowdown in U.S. Inflation
U.S. CPI Data and Its Impact
Following the release of the U.S. Consumer Price Index report, major stock indices like the S&P 500 and Nasdaq Composite Index hit new records, indicating growing investor confidence in the Federal Reserve's potential monetary policy adjustments.
The Tech Sector Performance
The tech sector, particularly the NASDAQ-100 Technology Sector Index, exhibited strong performance, underlining investors' expectations of a more accommodative monetary policy ahead.
- The bond market experienced a decrease in yields for 2-year and 10-year U.S. government bonds.
- The U.S. dollar index (DXY) declined by 0.5%, while gold prices rose by 0.7%.
Bitcoin Price Analysis
BTC's current price is $64,884.00, reflecting a 6% increase in a day. The market awaits the breakout above key resistance levels to determine further price movements, potentially targeting the late-April highs and yearly peak.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.