$BTC Bitcoin held above $110,000 on Tuesday, supported by sustained institutional buying and cautious investor positioning ahead of U.S. inflation data that could influence the Federal Reserve’s interest rate outlook for the remainder of this year.
The crypto was last trading at $109,900, after reaching a session high of $110,237. It is up 4.2% over the past week and has remained within reach of its May 22 peak of $111,814, CoinGecko data shows.
It comes as investors await May’s Consumer Price Index report, due at 8:30 a.m. ET on Wednesday.
Economists expect the core CPI to rise 0.3% from April, with the headline CPI up 0.2% on a month-over-month basis and 2.4% year-over-year, per MarketWatch data. Producer price data is due Thursday.
