Bitcoin holds near $80,000 as inflation data pressures stocks and rate outlook
Markets are repricing interest-rate expectations after April inflation accelerates to its fastest pace since May 2023, pushing equities lower while Treasury yields rise. Bitcoin remains comparatively steady near $80,500 even as traders increase bets that the Federal Reserve could raise rates this year instead of cutting them.
Highlights
- April core CPI rises 0.4% month-over-month versus 0.2% in March and above the 0.3% economist forecast, with headline CPI up 3.8% year-over-year.
- Markets now assign over 35% probability to one or more Federal Reserve rate hikes this year, reversing earlier expectations of rate cuts.
- Amid inflation-driven Nasdaq drop of 1.3%, Bitcoin trades steady near $80,500 while ether and XRP fall about 2.5% each.
April inflation data reshapes rate expectations
As reported by CoinDesk, the morning's Consumer Price Index report shows core consumer prices rise 0.4% in April, up from 0.2% in March and above the 0.3% expected by economists.On a year-over-year basis, core CPI increases 2.8%, compared with 2.6% in March and a 2.7% forecast. Headline CPI, which includes energy costs, rises 3.8% in April versus 3.3% in March and 3.7% expected, marking the fastest inflation pace since May 2023.
The figures prompt traders to quickly reprice the Federal Reserve path. Markets now see more than a 35% chance of one or more rate hikes this year, according to CME FedWatch, a sharp reversal from recent weeks when attention centers on how often the Fed might cut rates in 2026.
Crypto resilience contrasts with broader market weakness
The shift in rate expectations sends stocks lower, with the Nasdaq down 1.3% as investors respond to the stronger-than-expected inflation print. Rising yields and reduced expectations for easier monetary policy add pressure across risk assets.Bitcoin, however, holds relatively firm and trades around $80,500, roughly flat over the past 24 hours. Larger altcoins show weaker performance, with ether and XRP each down about 2.5%, suggesting the inflation shock weighs more heavily on the broader crypto market beyond bitcoin.
Our earlier coverage of the April 2026 CPI report focused on how the House Ways and Means Committee linked inflation trends to Republican tax policy, arguing the Working Families Tax Cuts were providing near-term relief to households. The piece highlighted claims of record average refunds near $3,300, broad use of targeted provisions, and potential spillover effects on hiring and wage growth for Main Street businesses.
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