U.S. CPI Softer Than Expected at 0.3% in April; Bitcoin Rises to $63.7K

In April, the U.S. Consumer Price Index (CPI) rose by a softer-than-expected 0.3%, indicating a possible easing of inflation pressures. This news spurred optimism about potential Federal Reserve rate cuts, impacting financial markets and boosting Bitcoin's value to $63,700. Concurrently, April's retail sales data showed unexpected softness, further influencing market sentiments and leading to gains in the S&P 500 and a drop in the U.S. dollar index.