Bitcoin Stalls at $62K as April Inflation Hits 2.3%—Traders Yawn at ’Controlled’ CPI Data
Another month, another inflation report that somehow justifies both the Fed’s hesitation and crypto’s sideways slog. Bitcoin barely budged after the US Labor Department’s latest CPI figures landed squarely in the ’meh’ zone—up 2.3% year-over-year, exactly as Wall Street’s overpaid economists predicted.
Market Reaction: Digital Gold Plays Dead
No volatility? In crypto? Must be a glitch. BTC hovered stubbornly around $62,000 as traditional markets celebrated the non-event with a 0.5% SPX bump—proof that institutional traders will cheer any data that doesn’t actively scream ’recession.’
The Real Story: Liquidity Vampires Strike Again
While permabulls hoped inflation data would trigger the long-awaited breakout, the real action happened in stablecoin flows. Tether’s market cap quietly bled another $2B this month—because nothing says ’healthy market’ like leveraged longs getting liquidated at a 2% price swing.
Closing Thought: The Fed’s ’Mission Accomplished’ Moment Comes With Fine Print
Powell & Co. might call this ’progress,’ but crypto’s muted reaction reveals the dirty secret: everyone’s waiting to see if the next CPI print includes a surprise ’transitory’ comeback tour. Meanwhile, Bitcoin keeps doing what it does best—ignoring macro noise while quietly absorbing another $500M in daily ETF inflows. Some hedges never change.
