The core consumer price index (CPI), which measures core inflation in the US, rose less than expected in April, rising just 0.3%. This figure suggests a possible decline in inflation and gives investors hope that the Federal Reserve will cut interest rates. However, away from Bitcoin (BTC), theres another project that stirs excitement which is Bitbot. This Telegram bot boasts a unique AI Gem Scanner, aiming to empower traders. By identifying undervalued tokens, this tool could be the life raft investors need in the volatile crypto market.
Bitcoin Soars 6.5% Amid Slowing US Inflation
The latest inflation report showed that the rate of price increases is slowing, but Federal Reserve officials need more data before they move to ease monetary policy. On Tuesday, Fed Chairman Jerome Powell said the central bank “needs to be patient and allow contractionary policy to do its job.” Moreover, some politicians do not see the possibility of cutting rates this year.
Despite this, news of slowing inflation increased optimism in financial markets, including cryptocurrency. The price of Bitcoin (BTC) jumped 6.5% from $62,000 to $66,000. However, the top 10 altcoins also rose significantly. As a result, the total capitalization of the cryptocurrency market increased by 6.7% and reached $2.5 trillion.
Bitcoin Selling Pressure Lowers
Analysts believe that Bitcoin’s growth was influenced not only by macroeconomic factors, but also by a decrease in selling pressure.
“The reduction in selling pressure is [noticeable] among short-term holders who are selling for little or no profit, as well as traders who are losing unrealized gains accumulated over recent months. [Additionally], OTC Bitcoin stocks have stabilized, meaning fewer BTC are entering the market for sale,” CryptoQuant said.
However, for the rally to be sustainable, the pace of demand growth must accelerate. CryptoQuant noted that while inflows into ETFs remain minimal and the liquidity of stablecoins remains stagnant, it is too early to talk about a large-scale bullish trend.
Overall, analysts and industry experts remain optimistic about BTC’s long-term trajectory . As the cryptocurrency market evolves, macroeconomic conditions, regulatory changes and political factors will play a key role in shaping its future.
Bitbot and the Telegram Bot Market
The Telegram bot market has experienced significant growth, currently boasting over $40 million in daily trading volume and over $1 billion in total market cap. These bots offer a unique blend of accessibility and automation, making them highly appealing to crypto investors.
The surge in popularity is largely due to their ability to provide real-time trading capabilities directly within the Telegram app, allowing users to execute trades and manage their portfolios with unprecedented ease. As the market expands, more investors are leveraging these tools to stay ahead in the fast-paced world of cryptocurrency trading.
This is where comes the role of Bitbot’s advanced AI trading tools and features, which position it as a game-changer in the Telegram bot market, offering a perfect gateway for new and experienced traders alike.
Bitbot: Revolutionizing Crypto Trading with AI
Bitbot’s most compelling feature is its proprietary Gem Scanner, a powerful AI tool designed to unearth hidden gems within the crypto market. It utilizes a combination of data aggregation, machine learning, and natural language processing to empower users with valuable insights and help them identify high-potential tokens before they explode in popularity. Unlike other scanners, Bitbot’s Gem Scanner offers a unique “degen score” that ranks tokens based on market buzz and activity, simplifying complex data into actionable information for both seasoned traders and crypto newbies.
Additionally, Bitbot is the world’s first non-custodial Telegram trading bot, meaning it does not hold users’ funds directly. Instead, users maintain control over their wallets, significantly reducing the risk of theft and fraud. This non-custodial approach is a long-awaited solution for users who prioritize security and autonomy when managing their investments.
