April core CPI rose 0.4%, exceeding forecasts and sparking Fed rate hike bets, pressuring equities but leaving BTC unchanged.
Bitcoin held near $80,500 despite a sharp selloff in equities after April’s inflation data surprised to the upside. Core CPI climbed 0.4% month-over-month, double March’s pace and above the 0.3% consensus, while headline CPI accelerated to 3.8% year-over-year, the highest since May 2023.
Markets swiftly repriced Fed policy, with CME FedWatch now showing a 35% chance of rate hikes this year. The Nasdaq led losses, dropping 1.3%, while major altcoins like ETH fell 2.5%. BTC remained flat over the past 24 hours, defying broader risk-off sentiment.