Bitcoin ‘never crossed’ $100K if adjusted for inflation, says Alex Thorn

Alex Thorn, head of research at Galaxy, asserted that when Bitcoin's all-time high of over $126,000 (reached in October) is adjusted for inflation using 2020 dollars, it actually peaked at $99,848, thus failing to cross the $100,000 milestone. Thorn's calculation accounts for the decline in the dollar's purchasing power, measured by the Consumer Price Index (CPI), from 2020 to the present. According to the CPI, the cost of goods is 1.25 times higher than in 2020, meaning the dollar has lost about 20% of its value. This analysis comes as US inflation remains elevated despite a recent drop, and as the US Dollar Currency Index (DXY) has fallen significantly this year, fueling the "debasement trade" strategy.

(Source：Cointelegraph)