India, May 13 -- Cryptocurrencies declined in the past 24 hours even as markets digested the unexpected cooling in consumer price inflation in the U.S.
Data released by the U.S. Bureau of Labor Statistics showed headline annual inflation in the U.S. unexpectedly declining to 2.3 percent in April. Markets had anticipated a steady level of 2.4 percent. The core component remained steady at 2.8 percent as expected.
Consumer price inflation on a month-on-month basis which was expected to rebound to 0.3 percent unexpectedly showed a lower reading of 0.2 percent. The core component too unexpectedly showed a lower reading of 0.2 percent that 0.3 percent that the markets had anticipated.
Overall crypto market capitalization has declined 1.4 perc...