Bitcoin trader sees new all-time high in June as US PPI reverses a day's BTC price losses.
Summary
Bitcoin (BTC) rebounded near $107,000 at the June 12 Wall Street open due to slowing US inflation data, which negatively impacted the dollar. The US Producer Price Index (PPI) showed the lowest increase since September 2024, contributing to a relief bounce for Bitcoin after a previous dip to $106,600. Cooling inflation may allow the Federal Reserve to lower interest rates sooner, benefiting liquidity inflows into crypto. The US dollar index dropped to its lowest since March 2022. Market sentiment remains bullish for Bitcoin, with traders eyeing critical price levels. Predictions suggest potential new all-time highs of up to $116,000 by the end of June, contingent on maintaining support around $106-107K.
