After breaking its all-time high last week, exceeding $111,000, Bitcoin experienced a downturn. Following news of potential violations in the US-China trade agreement by President Trump, it dropped to around $105,000. This decline was accompanied by a decrease in values across various altcoins. 2023’s inflation rate for April has been released and gives insight into monetary policy. According to the data:
* Core Personal Consumption Expenditures Price Index (YoY) was announced at 2.5%, with an expected 2.5% rise and a previous figure of 2.6%.
* Core Personal Consumption Expenditures Price Index (Monthly) dropped by 0.1% , matching expectations with a previous figure of 0.0%.
* Personal Consumption Expenditure Price Index (Annual) announced at 2.1%, aligning with the expected 2.2% and previously a 2.3%.
* Personal Consumption Expenditure Price Index (Monthly) dropped by 0.1% to match an expected 0.1% drop, following a previous figure of 0.0%.
* What was Bitcoin’s immediate reaction? Read on to find out!
**Disclaimer: This is not financial advice.**