BTC climbed back to $70,000, erasing earlier losses triggered by U.S. inflation data. The rebound indicated strong demand for BTC, outperforming equities and gold over 24 hours.
QCP Capital highlighted that despite the drop, there is significant interest in long-dated BTC calls, signaling a deep bullish sentiment toward BTC.
Analyst Will Clemente underscored the importance of U.S. debt levels over CPI readings, suggesting policymakers may allow inflation to surpass 2% to manage debt. Clemente views Bitcoin as a hedge against inflation-driven debt inflation.
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