The most recent report from the U.S. Labor Department's Bureau of Labor Statistics indicates that the consumer price index (CPI) for April rose by 0.3%. Over the past year, the CPI has increased by 3.4%, primarily due to higher costs for shelter and gasoline.

Financial markets experienced relief as the April CPI data showed moderate inflation. The increase of 3.4% over the past year marks a slight decrease from March's 3.5%, suggesting a subtle improvement in April.

Shelter and gasoline prices drove over seventy percent of the monthly increase in the CPI. The energy index rose by 1.1% over the month, while the food index remained unchanged in April.

Following the release of the CPI report, all four major U.S. equity indexes recorded gains during Wednesday's trading sessions, with the Nasdaq and S&P 500 performing particularly well. The stock market responded positively to the CPI report's outcome.

Dan North, senior economist at Allianz Trade North America, noted a "relief rally" in response to the CPI report, as it was the first print in a month that wasn't hotter than expected.

Precious metals, including gold and silver, saw gains, and bitcoin surged by 3.8% following the CPI news, reaching an intraday high of $64,699 per unit on Bitstamp.

The entire cryptocurrency market experienced a 3.94% increase over the last 24 hours, reaching an estimated total value of $2.33 trillion. Ethereum, solana, and toncoin saw notable increases, while Bittensor recorded the largest 24-hour surge against the U.S. dollar, climbing by 15%.

Overall, the global trade volume within the cryptocurrency market increased by 7.6% from the previous day, reaching $79.64 billion at the time of reporting.