Bitcoin Hits $64,000 Threshold Amid Cautious Crypto Markets

Bitcoin hovered near $64,000 on Wednesday as crypto markets turned cautious ahead of US CPI data. According to experts, the cryptocurrency was trading at around $63,759.

Riya Sehgal from Delta Exchange stated that 'crypto markets remain cautious ahead of the U.S. CPI release' with Bitcoin hovering near $64,000 due to macro uncertainty.

Vikram Subburaj from Giottus warned investors to avoid chasing short-term moves before the inflation release, recommending 'staggered accumulation, limited leverage and disciplined position sizing.'

Bitcoin was down 0.34% in the past 24 hours, while Ethereum was up 0.98%. The global crypto market capitalization edged down 0.07% to $2.18 trillion.