Bitcoin's biggest buyer is breaking down while inflation spikes — short the crypto bleed
Bitcoin is crashing to multi-year lows as inflation spikes and a key billionaire buyer's funding model appears to be breaking down. The combination of a weak economy and the loss of a major market support mechanism points to more pain ahead for crypto.
Idea
Bitcoin is plunging to 21-month lows under a perfect storm of negative catalysts. Fresh government data shows US inflation hitting a three-year high, which typically forces investors to abandon high-risk assets like crypto. Making matters worse, Michael Saylor's aggressive debt-fueled Bitcoin buying machine—a major source of constant demand over the past two years—is showing signs of seizing up. When you combine rising inflation, panicked 'extreme fear' selling, and the loss of a massive structural buyer, the floor under Bitcoin is disappearing.
What happened since
| Symbol | Dir | T+1 | T+5 | T+20 |
|---|---|---|---|---|
| BTC | SHORT | -0.13% ✓ | -0.11% ✓ | — |
Price change since publication · updated Jul 12