Bitcoin (BTC) surged to $28,153 on May 10 following the release of the latest consumer price index (CPI) report, which showed that US inflation fell more than expected in April. The drop in inflationary pressures has eased expectations of the Federal Reserve's policy tightening campaign, leading to a rise in BTC's market worth by over $10 billion in just a few minutes.
However, some experts remain cautious about the cryptocurrency's prospects, with one trader predicting that BTC may not exceed $29,000 in the short term due to the current volatile trading environment. Meanwhile, the CoinMarketCap community predicts that Bitcoin may trade at an average price of $24,753 on May 31, implying a potential downside of 12% from the current price.
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