Bitcoin Sells Off 3%; Is Macro Risk Returning to Market?

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Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

Bitcoin bulls so far this year have had a respite from having to pay attention to things like the economy and Federal Reserve monetary policy thanks to the overwhelming demand for the crypto from the new spot ETFs. For the moment, at least, that appears to be changing.

Earlier this week, the Consumer Price Index also came in faster than anticipated, with inflation ticking up to 3.2% annually and the core rate rising to 3.8%.

 

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