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via CoinDesk · By CoinDesk Staff
Bitcoin price analysis: blame BTC plunge on rising inflation, not Strategy, 10xResearch says
BTC
BTC/USDT
$63,058.49
-0.00%
$63,058.49
-0.00%
(24s)24h Volume
$2,454,334,377.30
24h H/L
$63,175.00 / $62,920.00
Change: $255.00 (0.41%)
Long/Short
68.0%
Long: 68.0%Short: 32.0%
Funding Rate
+0.0026%
Longs pay
Data provided by COINOTAG DATALive data
CS
CoinDesk Staff(02:37 PM UTC)
1 min read
The main driver behind bitcoin's weakness was ETF selling after red-hot April U.S. inflation data, 10x's Markus Thielen argued. The bounce may hinge on Wednesday's CPI data, he said.
Bitcoin's BTC$63,767.49 slide below $60,000 may have less to do with Michael Saylor's Strategy (MSTR) and more to do with inflation creeping higher, one analyst argued.
In a Monday report, Markus Thielen, founder of…
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