Bitcoin price rise to new all-time high could be hindered by rising CPI

Bitcoin’s price remains close to the 110,000 USD resistance. With the latest price at 109,480 USD, upcoming data regarding inflation could significantly impact future trends.

The June 11 CPI report will be pivotal. If inflation exceeds expectations, bearish sentiment may drag Bitcoin down. Conversely, lower inflation could see Bitcoin surpass 110,000 USD, targeting 111,980 USD.