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Bitcoin ($BTC) is trading higher even as US consumer prices climbed to a three-year high — a macro backdrop that has historically cut both ways for the asset.
The rebound, however, is already running into technical resistance, and analysts see a meaningful chance of a retreat below $60,000 before June is out.
Inflation as a Tailwind, With Caveats The intuitive read is that hotter inflation is good for bitcoin: harder money, weaker dollar, reach for alternative stores of value. That narrative has driven more than one rally.
But veteran observers of the asset class know the relationship is less tidy in practice.
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