BTC to break its ATH On June 12?

The price of Bitcoin dropped 1.1 percent to $67,828 over the past 24 hours. Its price is now 8 percent below the all-time high reached in March, Trading View’s Bitcoin chart shows.

Bitcoin is likely to break its all-time high if the upcoming May US inflation figures come in below April’s 3.4 percent, 10xResearch forecasts. “As the next CPI data release is scheduled for June 12, we expect that Bitcoin ETF inflows will likely remain strong(er) for the next two weeks. This should help lift Bitcoin to new all-time highs,” according to the crypto research firm’s daily note.

Investors will have another inflation-related figure to trade on Friday, when the US personal consumption expenditures (PCE) index for May is released. The PCE index is expected to remain unchanged at 2.8 percent compared to April.

According to ATTMO, both Bitcoin and Ether will profit from a bullish sun, indicating upside potential in the next 24 hours and the week ahead. Follow us for more crypto news and weather reports!