Bitcoin, Altcoins Prices Soar as CPI Report Shows US Inflation Falls to 3.4% – Best AI Cryptocurrencies to Buy Now

Today’s CPI report continued an 11-week trend where the data is above 3%, leaving traders skeptical that the figure will fall below that figure in the near future. However, the report revealed inflation rate slightly lower than forecast at 3.4%.

In response, Bitcoin price has reacted positively, currently trading well above $64,000, up almost 5% today. Notably, AI cryptocurrencies saw even bigger gains, with RNDR and NEAR prices surging by around 10% today.

Why is the CPI report positive for Bitcoin and Altcoin prices? AI Coin Pump

The drop in the US CPI to 3.4% in April, in line with economists’ expectations, is seen as positive news for risky assets like stocks and cryptocurrencies. According to Richard Fetyko, CEO of altFINS, this development suggests that the Fed may reassess interest rate cuts this year, as inflation appears to be showing a downward trend.

The Cleveland Fed’s inflation nowcast predicted 3.5% for April, which turned out to be better than expected. Overall, he thinks this is good news for assets like crypto.

Daan Crypto Trades, an analyst with nearly 400,000 followers on X, observed that the AI ​​sector rebounded most strongly during this development. He noted that while the memes were weakest this time around, it could simply be weak temporal noise or a natural market correction.

Alternatively, this could be because other coins are being shorted more, leading to a more explosive reaction during the bullish move after the CPI report.

In fact, the Near protocol (NEAR) the price is up 9% today, trading around $7.59, while Rendered (RNDR) the price jumped 8%, trading around $10.83. This positive momentum raises the question of whether the AI ​​crypto sector is poised for a boom following the favorable CPI news.

Source: CoinMarketCap/AI

The integration of AI technologies into blockchain projects could potentially drive growth in this sector, as it appears the crypto market is recognizing the transformative potential of these innovations.

Top Artificial Intelligence (AI) Cryptocurrencies to Invest in Now

Traders will now be on the lookout for the best AI cryptocurrencies to buy, capitalizing on the positive sentiment surrounding the sector following the CPI report announcement. A project that attracts attention is WienerAI (WAI)new AI coin highlighted by crypto analyst Michael Wrubelwho has over 312,000 subscribers on YouTube.

Wrubel praised WienerAI’s strong staking options, noting that more than 79% of total tokens have been staked, offering a high annual yield of 522%, which is a potentially big draw for investors. The project has already raised over $1.8 million in pre-sales in the first few weeks, combining the appeal of AI and meme coins.

Another AI crypto coin with potential is 5th escape (5SCAPE)aiming to create an integrated AR and VR gaming ecosystem, complemented by hardware like VR glasses.

The project managed to raise $5.9 million during its pre-sale, with a soft cap set at $15 million. The rapid growth, combined with a comprehensive KYC and audit process, positions 5th Scape as a platform that connects various virtual experiences, from games to educational tools, thereby widely attracting gamers and developers.

Conclusion

The recent CPI report showing a lower-than-expected inflation rate of 3.4% has injected optimism into the cryptocurrency market today. The prices of Bitcoin and altcoins, especially those considered AI crypto coins, have seen notable price increases.

As traders look to find the best artificial intelligence (AI) cryptos to buy now, projects like WienerAI and 5scape are gaining attention for their offerings and strong presale performance. The market reaction suggests that AI cryptocurrencies could be well positioned for growth as crypto investors prepare for the next surge in this bull run.

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