Bitcoin traders are eyeing a potential short-term correction before the cryptocurrency resumes its push toward new all-time highs, with key inflation data looming in the United States.
Bitcoin ($BTC ) briefly touched $110,000 on June 10 before pulling back to around $108,500 during U.S. market hours, as profit-taking and macro uncertainty triggered modest selling pressure. Market analysts say the dip may offer a strategic entry point.
“An ideal buy zone would be around $107,000–$108,000,” said crypto analyst Michaël van de Poppe, who anticipates a brief consolidation followed by a renewed breakout above all-time highs. Others, including analyst Mark Cullen, have identified $106,000 and $98,000 as possible support levels in the event of a deeper retracement.
The near-term focus now shifts to key U.S. macroeconomic indicators, including the May Consumer Price Index (CPI) and Producer Price Index (PPI), due Wednesday and Thursday. These inflation prints could significantly influence risk sentiment and Fed policy expectations ahead of the central bank’s June 18 meeting.
“For now, markets remain in limbo,” wrote trading firm QCP Capital, cautioning that vague diplomatic progress between the U.S. and China has failed to deliver concrete market catalysts.
With a Fed rate cut unlikely before September, according to market pricing and a new Reuters poll, investors are treading carefully — yet bullish optimism for Bitcoin remains intact if key support zones hold.
