Bitcoin continued to trade sideways on Tuesday after data showed U.S. inflation continued to slow in May. The largest cryptocurrency is trading at around $26,050, up 0.6% over the past 24 hours, according to CoinDesk data. Bitcoin rallied 57% so far this year, but is still down over 60% from its all-time high in 2021. For the past month, it has been trading in the range of $25,000 and $28,500. Consumer prices rose a scant 0.1% in May and could cement a decision by the Federal Reserve to “skip” an increase in interest rates this week.
-Frances Yue
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06-13-23 0924ET
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