The main driver behind bitcoin's weakness was ETF selling after red-hot April U.S. inflation data, 10x's Markus Thielen argued. The bounce may hinge on Wednesday's CPI data, he said.

Bitcoin (CRYPTO: BTC) traded below $60,000 Friday, capping a brutal week for crypto after Strategy Inc.

Bitcoin (BTC-USD), the largest cryptocurrency, saw its value plunge by more than 16% last week. In fact, it fell below $60,000, declining to its...