Analysis: U.S. inflation has cooled for three consecutive months, and cryptocurrency stocks have risen against the trend

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According to The Block, U.S. Department of Labor data showed that CPI rose 2.3% year-on-year in April, lower than expectations of 2.4%, core CPI remained at 2.8%, and headline inflation hit a four-year low and fell for three consecutive months. As a result, crypto-related stocks performed strongly:

  • Coinbase (COIN) shares rose 16% to $240 in a single day
  • Shares of mining companies such as Marathon Digital rose in tandem
  • Both the S&P 500 and the Nasdaq are now up

Despite the overall decline in the crypto market on the day (Bitcoin at $103,200), Nansen analyst Aurelie Barthere noted that blockchain stocks may be on the way to a "catch-up rally" as trade tensions ease and risk appetite gradually recovers. 21Shares expert David Hernandez believes that slowing inflation could affect the Fed's June interest rate decision.

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