Overview
- Jeremy Grantham reiterated on CNBC that he views bitcoin as a "useless, speculative" asset that will "dwindle away" over years or decades and said he has never owned it.
- Bitcoin has dropped roughly 52% from its October 2025 peak and was trading below $60,000 in late June, a pullback that fits its history of large post‑peak corrections.
- Market analysts point to hotter U.S. inflation data, renewed fears of higher interest rates, and several days of net outflows from newly launched U.S. spot bitcoin ETFs as key drivers of the recent selloff.
- Despite the decline, some institutional buyers and high‑conviction investors have added exposure, producing a stark split between long‑term holders who buy dips and shorter‑term sellers.
- Investors should watch ETF flow data, upcoming U.S. inflation reports and large institutional trades for signs of where price and sentiment could move next, and prepare for continued volatility given bitcoin's history of deep drawdowns.