CoinShares Head of Research James Butterfill said bitcoin’s difficult near-term outlook is not fundamentally bearish. According to NS3.AI, bitcoin recently traded at $81,473, down 2% over seven days, after stronger-than-expected inflation data this week. Butterfill said inflation remains too high for Federal Reserve rate cuts, while the economy remains too resilient to force a policy change. He said higher inflation could prompt interest-rate increases, and higher borrowing costs could restrict the liquidity needed for a bitcoin rally. Butterfill advised investors to remain patient and base their digital-asset exposure on long-term strategic allocations rather than individual weekly data releases.