Cryptocurrency (translation)

Soft reports of CPI and retail sales fuel optimism for interest rate cuts, and Bitcoin rises
2024/5/15 10:18 a.m. etBitcoin USD (BTC-USD) cryptocurrency, ETH-USD CryptoMstr, RIOT, MARA, COIN, HUT, BRPHF, bitFby: Max Gottlich, South Africa news editor

Bitcoin (BTC-USD) has risen significantly due to soft reports on consumer inflation and retail sales, raising expectations that the Federal Reserve may begin cutting interest rates earlier this year.

The world's largest digital token (BTC-USD) by market capitalization rose 3.7% to $64,000 at 10:18 a.m. EST. Ether (ETH-USD) also rose 2% to $2,950. Mike Novogratz of Galaxy Digital (OTCPK: BRPHF) believes that major tokens will continue to stabilize in a relatively narrow trading range.