From Decrypt Media: 2024-06-11 06:58:02

Bitcoin has dropped 2.9% ahead of the FOMC meeting and CPI report, where analysts expect CPI to be 3.4% and core CPI at 3.5%. The Federal Reserve is unlikely to cut rates based on this data.
BTC spot ETFs saw an outflow of $65 million in contrast to the second-highest inflows earlier.
Grayscale’s GBTC ETF recorded a net outflow of $40 million in the last 24 hours as Bitcoin faces a negative correlation to U.S. bond yields.
Standard Chartered predicts Bitcoin could hit $100,000, potentially rising to $150,000 if Donald Trump returns to power.
Bitcoin is being likened to “digital gold” with low circulation and similar transaction velocity as 13 years ago, exacerbated by downturns in both the BTC price and broader market.



Read more at Decrypt Media: Bitcoin Drops 3% Ahead of Interest Rate Decision and US Inflation Report