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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
$63,025.96
+0.40%
$63,025.96
+0.40%
(24s)24h Volume
$11,101,289,669.86
24h H/L
$63,999.00 / $62,436.59
Change: $1,562.41 (2.50%)
Long/Short
62.0%
Long: 62.0%Short: 38.0%
Funding Rate
+0.0020%
Longs pay
Data provided by COINOTAG DATALive data
CS
CoinDesk Staff(02:37 PM UTC)
1 min read
1034 views
0 commentsThe 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…
COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.
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