Bitcoin remains steady at the $110,000 mark... Awaiting this week's CPI and Fed signals

The price of Bitcoin (BTC) is showing stability near the $110,000 level, with market participants paying close attention to the Consumer Price Index (CPI) and the Federal Reserve's rate policy signals to be announced this week.

On the 10th (local time), Decrypt reported, "Bitcoin rose 4.2% last week ahead of the release of US inflation indicators and was trading near its May all-time high of $111,814 (USD)," adding, "Investors expect core inflation (Core CPI) to rise 0.3% from April, and headline inflation (Headline CPI) to rise 2.4% year-on-year."

Rachel Lucas, Bitcoin market analyst, stated, "The current market is more robust compared to the previous highly speculative cycle. Institutional investors, ETFs, and corporate bonds are continually purchasing." She presented a positive outlook.

Currently, Strategy (MSTR) holds 582,995 Bitcoin, while Japan's Metaplanet plans to additionally accumulate Bitcoin worth $5.4 billion. The Blockchain Group is also working to increase its Bitcoin holdings, reaching up to $342 million. BlackRock's Bitcoin ETF, iShares Bitcoin Trust (IBIT), has exceeded $7 billion in assets under management (AUM).

Meanwhile, Lucas warned, "If profit-taking increases or if the US Fed signals a slowdown in rate cuts, the attractiveness of Treasury bonds may rise again, potentially posing headwinds for cryptocurrency prices."