Bitcoin hovered around $66,000 on May 16 after U.S. macroeconomic data triggered a surge in risk assets. Data from Cointelegraph Markets Pro and TradingView tracked Bitcoin’s price movement as bulls tried to solidify a 7.5% gain from the previous day. This rise followed the April Consumer Price Index (CPI) report, which slightly exceeded expectations and sparked hopes for looser financial conditions for crypto and other risk assets. However, some reactions were cautious. Market analysts pointed to a rapid increase in open interest as a potential sign that Bitcoin’s price movement might not be sustainable. Popular trader Credible Crypto commented on
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