Bitcoin is having its best day since March following cooler April inflation reading
Publishing timestamp: 2024-05-15 13:25:54
Summary
Bitcoin jumped alongside stocks after April consumer price index showed easing inflation. Analysts believe rate cuts could be a major catalyst for bitcoin price. While recovery of risk-on assets like crypto is expected, higher interest rates could slow down the process. Bitcoin's unique position as both risk-on and risk-off asset is highlighted, with long-term investors holding a positive view. However, JPMorgan remains cautious on crypto as retail investors dump following ETF hype.
Sentiment: MIXED
Tickers: BTC.CM=,
Keywords: technology, bitcoin, cryptocurrency, bitcoin/usd coin metrics, business news,
Source: https://www.cnbc.com/2024/05/15/crypto-market-today.html