According to this website the US Dollar had a 4.2% inflation rate during the month of April and for May it had 5% which I think is abnormal considering that it is more than what the USD is experiencing during the past months/years. I know that the common concept of an increase in inflation will translate to people will most likely save or invest their money to other hedges and this will most likely be the case however there is no guarantee that people who has US dollars will be focusing their money towards Bitcoin or in the crypto market in general. Other factors such as their risk appetite and other investment opportunities will also be considered and I don't think people in the US have the same way of thinking as the South Koreans where their crypto exchanges have more volume than their own stock market.