Crypto markets stalls before inflation data as XRP, SOL rebuffed from key price levels
Key takeaways
- Bitcoin’s BTC$80,621.04 rally stalled in the $80,000–$82,000 range, where it has largely traded since last Wednesday.
- The U.S. is scheduled to report its consumer price index (CPI) for April at 8:30 a.m.
- "Markets are entering a highly sensitive period where geopolitics, inflation risks and central bank expectations are colliding," said Lukman Otunuga, head of market research at global trading broker FXTM.
Bitcoin’s BTC$80,621.04 rally stalled in the $80,000–$82,000 range, where it has largely traded since last Wednesday. While fund flows continue to point toward an eventual breakout, macro risks, particularly inflation, suggest caution.
The U.S. is scheduled to report its consumer price index (CPI) for April at 8:30 a.m. ET. According to FactSet, the median estimate is 3.7%, up from 3.3% in March. If that proves correct, it would mark the largest increase in the CPI since January 2024 and be well above the trailing 12-month average of 2.7%.
Analysts are worried that such a reading, especially against the backdrop of what President Donald Trump described as an “unbelievably weak” U.S.-Iran ceasefire and still-elevated oil prices, could trigger risk aversion, potentially weighing on asset prices.