Hot inflation data spooks markets as Bhutan keeps dumping Bitcoin
Crypto Briefing
Higher-than-expected US inflation of 3.8% has pressured crypto markets while the Kingdom of Bhutan continues its consistent Bitcoin liquidation strategy.Summary
US inflation unexpectedly hit 3.8% year-over-year, challenging the narrative of impending rate cuts and causing crypto assets like Bitcoin, Ethereum, and Solana to decline. Markets have shifted from anticipating monetary easing to considering potential rate hikes, creating a difficult environment for risk assets. Simultaneously, the Kingdom of Bhutan continues to sell Bitcoin, offloading another 100 BTC as part of a larger $230 million liquidation strategy. While these individual sales are not market-moving, the consistent sovereign selling creates psychological pressure, adding further uncertainty as investors worry that the previous disinflationary trend may be reversing.
(Source：Crypto Briefing)