Live markets: Bitcoin holds $80,000 as stocks sink, yields rise on ugly inflation print

A notable development has hit the crypto markets. 13 minutes ago · 3:05 PMStephen AlpherShare Share this post Copy link X (Twitter) LinkedIn Facebook EmailBitcoin flat following disappointing inflation dataBitcoin holding steady after poor inflation data (Unsplash)Core consumer prices — which would have stripped out what everyone already knew were surging energy costs — rose 0. 4% in April, double March's 0. 2% pace and higher than 0.

3% expected by economists. On a year-over-year basis, core CPI rose 2. Headline CPI — which does include energy costs — was higher by 3.

Market Dynamics

8% in April versus just 3. 3% in March and 3,7% expected. 8% was the fastest pace of inflation since May 2023.

The data has market participants quickly pricing in Federal Reserve rate hikes — a massive change from weeks ago, when the question was how often the Fed would be cutting rates in 2026. According to CME FedWatch, markets are seeing more than a 35% chance of one or more rate hikes this year. The news has helped send stocks lower, led by the Nasdaq's 1.

Bitcoin (BTC), though, has been holding steady, currently trading at $80,500, roughly flat over the past 24 hours. Major altcoins like ether (ETH) and XRP (XRP) are down closer to 2.

Crypto markets are watching this development closely as investors weigh its potential impact on prices.