Bitcoin Stabilizes Amid Stocks Decline Ahead of Key Inflation Report

Cryptocurrency prices held steady on Tuesday as stocks extended their losses, leading investors to wait for key inflation data. Bitcoin remained within a tight range between $63,100 and $64,400, while its trading volume decreased. Ethereum's trading volume also dipped.

Among the top gainers were XRP and Dogecoin, which rose 0.90% and 3.41%, respectively. Solana surged 0.62% to $76.33. However, long position traders suffered losses, with over $170 million liquidated from the market in the last 24 hours.

CryptoQuant noted that Binance's Bitcoin reserves have reached their highest level since February, which could indicate a shift in supply on the platform. Analyst Michaël van de Poppe predicted that if the July consumer price report comes in better than expected, Bitcoin will likely rise.