Bitcoin Price Drops Below $64,000 Amid Cautious Market Sentiment
Crypto prices took a hit on Tuesday as investors retreated ahead of the United States inflation data. The global market value dropped by 1.57% within 24 hours, reaching $2.18 trillion.
Bitcoin's price fell below $64,000 after failing to maintain Monday's advance above $65,000, dropping by approximately 1.8% in the session. The BTC price was trading at around 63,993.
Ethereum's price also declined, falling below $1,900, while XRP hovered close to $1 and experienced significant losses. Other major altcoins reflected Bitcoin's reversal and cautious market sentiment.
The week ahead is packed with key US crypto market events, including the CPI report on Wednesday, PPI data on Thursday, jobless claims, and two Fed speeches. Retail sales and consumer sentiment data are scheduled for release on Friday.