European asset manager CoinShares' Head of Research, James Butterfill, stated that while hot inflation data is putting Bitcoin under near-term pressure, it is not "fundamentally bearish" for long-term investors. Bitcoin's price recently stood at $81,473, down 2% over a seven-day period. Butterfill noted the near-term challenge comes from an "awkward middle ground" macro environment where inflation is too high for the Fed to ease, and the economy too resilient for a policy pivot.