Tom Essaye: Inflation-Driven Bitcoin Drop Doesn’t Derail Long-Term Bullish Outlook
Sevens Report founder says institutional adoption and regulation support crypto’s future despite near-term volatility
Bitcoin News Today: Bitcoin Falls 7% as U.S. Inflation Hikes Pressure Rate Cut Prospects
Bitcoin slid 7% on Friday as hotter U.S. inflation data weighed on rate-cut expectations, sparking a broad risk-off move in markets. Despite the pullback, the cryptocurrency remains up roughly 25% year-to-date and has rallied nearly 57% from April’s lows.
Tom Essaye, founder of Sevens Report Research, said the short-term volatility reflects Bitcoin’s heightened sensitivity to macroeconomic shifts. “Inflation pressures are clearly a headwind in the near term, but the longer-term outlook hasn’t changed,” Essaye noted. He pointed to institutional adoption and regulatory clarity as key drivers supporting Bitcoin’s structural bullish case.
“Volatility will always be part of crypto, but the foundation is getting stronger,” Essaye said, stressing that macro shocks don’t erase the sector’s long-term growth potential.
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