$BTC Steadies Near $110K as Traders Await Inflation Data, Fed Signals

Bitcoin is trading close to two-week highs near $110,000 as investors await U.S. inflation data that may shape the Fed’s rate outlook.

In brief:
$BTC traded near $110,000 ahead of key U.S. inflation data, holding close to its May all-time high of $111,814.

Investors expect May CPI to show core inflation rising 0.3%, with headline inflation at 2.4% year-over-year.

Fed funds futures price in a 61% chance of a rate cut in September, per CME’s FedWatch Tool.

Sebastian Sinclair

🔗 decrypt.co


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