Blame bitcoin's tumble on rising inflation, not Strategy, 10xResearch argues

Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Blame bitcoin s tumble on rising inflation, not Strategy, 10xResearch argues 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. By Krisztian Sandor | Edited by Nikhilesh De Jun 8, 2026, 2:37 p.m. 2 min read Make preferred on (Markus Winkler/Unsplash) What to know : Bitcoin’s selloff below $60,000 was driven by institutional selling through spot bitcoin ETFs after reaccelerating inflation data, 10x Research s Markus Thielen argued. Since the April U.S. CPI report on May 12, U.S.-listed bitcoin ETFs saw $5.4 billion in net redemptions. Bitcoin s rebound could be short-lived if May CPI inflation data on Wednesday will come in above 4%, Thielen said. Bitcoin s BTC $ 63,816.30 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.