Bitcoin Nears $103K as CPI Fuels Rally, Recession Looms

The crypto market remains bullish, with Bitcoin traded at approximately $103,000 level. April’s US Consumer Price Index came in at 2.3%, below the expected 2.4%, raising hopes for 2025 Fed rate cuts and fueling a risk-on sentiment that lifted BTC and ETH. Despite that, macroeconomic concerns grow as hedge fund manager Steve Cohen highlights a significant economic slowdown in the U.S. with a 45% recession probability.