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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

$79,622.01

-1.50%

$79,622.01

-1.50%

(24s)

24h Volume

$17,439,160,209.06

24h H/L

$81,423.03 / $78,660.00

Change: $2,763.03 (3.51%)

Long/Short

52.6%

Long: 52.6%Short: 47.4%

Funding Rate

-0.0020%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,697.72

▲ 0.05%

Volume (24h): -

Resistance Levels

Resistance 3$91,281.84

Resistance 2$88,315.23

Resistance 1$80,811.61

Price$79,697.72

Support 1$79,507.02

Support 2$76,172.06

Support 3$74,131.55

Pivot (PP):$79,916.17

Trend:Sideways

RSI (14):66.5

CoinDesk Staff

(02:37 PM UTC)

1 min read

Updated byMichael Roberts

0 comments

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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CoinDesk Staff · CoinDesk

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