Galaxy head of analysis Alex Thorn mentioned bitcoin’s October all-time excessive above $126,000 didn’t clear $100,000 when adjusted for inflation.
Thorn wrote Tuesday that, in 2020-dollar phrases, bitcoin “by no means crossed $100,000.”
Thorn added:
“It truly topped at $99,848 in 2020 greenback phrases, in case you can imagine it.”
How Thorn calculated the inflation-adjusted peak
Thorn mentioned the adjusted excessive accounts for the Shopper Value Index (CPI) decline in buying energy “incrementally throughout each inflation print from 2020 to at this time.”
The CPI is revealed by the US Bureau of Labor Statistics and tracks worth adjustments for a basket of products and companies.
US inflation and greenback buying energy
The Bureau of Labor Statistics reported in November that CPI rose 2.7% over the previous 12 months, not seasonally adjusted.
Thorn’s put up referenced the broader lack of buying energy since 2020, with the greenback down about 20% over that interval.
DXY weak spot and the “debasement commerce”
Thorn additionally pointed to US greenback declines in 2025, citing the Greenback Forex Index (DXY) as down 11% year-to-date to 97.8, with a three-year low of 96.3 in September.
