Crypto Prices Dip As New Inflation Data Shows Rates Unchanged

Bitcoin and Ethereum prices dropped over 2% immediately after the release of new US inflation data showing it unchanged at 3.5% in March
High inflation rates are seen as bad for crypto as they reduce the chance of interest rate cuts which benefits assets like bonds over crypto
The inflation data was largely expected so should not cause major volatility
Fed Chair Jerome Powell said rates are unlikely to be raised soon but also no rush to reduce them
Crypto markets slumped last week on the back of positive jobs data showing rising payrolls and steady 3.8% unemployment rate