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

ChainCatcher news, according to The Block, data from the U.S. Department of Labor shows that the April CPI rose 2.3% year-on-year, lower than the expected 2.4%, while the core CPI remained at 2.8%. The overall inflation rate hit a four-year low and has decreased for three consecutive months. As a result, cryptocurrency-related stocks performed strongly:

• Coinbase (COIN) stock price rose 16% in a single day to $240
• Mining companies like Marathon Digital saw their stock prices rise as well
• Both the S&P 500 index and the Nasdaq index experienced gains

Although the cryptocurrency market overall fell 3.4% that day (with Bitcoin at $103,200), Nansen analyst Aurelie Barthere pointed out that blockchain stocks might be undergoing a "catch-up rebound," as market risk appetite gradually recovers with easing trade tensions. 21Shares expert David Hernandez believes that the easing of inflation may influence the Federal Reserve's interest rate decision in June.