Bitcoin Price Linked to Inflation Fears, Analyst Claims
Over $5.23 million in Ethereum (ETH) shorts were liquidated on Binance at $2,126. The liquidation event was driven entirely by ETH, indicating a squeeze on short positions. A surge in Ethereum's price has led to the liquidation of numerous short positions. Bitcoin encountered resistance around the $80,000 mark, experiencing a sharp pullback and a cautious market sentiment. This price action follows a period of mixed data regarding its recovery. A veteran macro investor claims Bitcoin will emerge as a winner if inflation hits 4% again. Analysts suggest that despite bearish appearances in perpetual futures, the BTC price is rising.
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