Blame bitcoin's tumble on rising inflation, not Strategy, 10xResearch argues
60-second summary
Bitcoin's recent tumble is attributed to rising inflation, not a change in strategy, according to 10xResearch's Markus Thielen. He cites ETF selling following April's red-hot U.S. inflation data as the main driver. The market may rebound if Wednesday's CPI data shows a decrease in inflation, potentially alleviating pressure on the cryptocurrency, impacting its price stability.
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.