Bitcoin’s early rally to $110,000 quickly lost momentum as US-China trade talks, despite some signs of progress, failed to impress, and tensions surged after Israel told US officials it was ready to launch an operation into Iran.

Bitcoin touched $110,300 on Wednesday after a better-than-expected May CPI print, with headline inflation rising 2.4% year-over-year, slightly below the forecasted 2.5%. $BTC

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