Bitcoin Stuck Near $63K Despite Softer US Inflation

The price of Bitcoin hovered near $63,000 on Thursday as softer US inflation data failed to ease pressure in the cryptocurrency market. Ethereum traded at around $1,900. In the past 24 hours, both Bitcoin and Ethereum gained a modest 0.10% and 0.22%, respectively. Among major altcoins, some tokens like BNB, Solana, Tron, Hyperliquid, and Cardano rallied up to 4%, while others like XRP and Dogecoin corrected by 1.45%. Analysts believe that Bitcoin's price rejection from $64,800-65,300 leaves $63,200 as immediate support, followed by $62,400.

According to Riya Sehgal, Research Analyst at Delta Exchange, Bitcoin needs to reclaim the $64,150-64,500 range to improve near-term momentum. The global crypto market capitalisation rose 0.24% to $2.19 trillion, according to CoinMarketCap. Vikram Subburaj, CEO of Giottus, said that improving macro conditions have not yet translated into strong crypto demand.

Vikram also warned investors against chasing short-lived rallies while Bitcoin remains below the $64,500-66,000 range. He recommended staggered accumulation, limited leverage, and disciplined position sizing until stronger ETF and spot demand confirm a recovery. Prateek Gupta, Head of Business at Mudrex, noted that Bitcoin slid back to around $63,500 after briefly reclaiming $64,000 in the wake of Wednesday's US CPI print.