10x Research: The recent failure of Bitcoin's breakout may be due to heightened tension ahead of the CPI announcement

ChainCatcher news, according to CoinDesk, 0x Research founder Markus Thielen stated in an interview that investors should not overinterpret Bitcoin's recent breakthrough failure, as this situation may represent the tension before the release of the U.S. Consumer Price Index (CPI).

He added that the Nasdaq index, dominated by technology stocks, rose this Tuesday, providing a positive signal for Bitcoin and other risk assets, which suggests that Bitcoin's decline may be temporary.

Note: The U.S. Bureau of Labor Statistics will release the CPI data for March 2024 today at 20:30.