Bitcoin Tumbles Below $64,000 as Investors Reduce Risk Ahead of Inflation Data

Crypto prices declined on Tuesday as investors took a step back and reduced risk before the United States inflation data release. The global market value dropped 1.57% in 24 hours, reaching $2.18 trillion.

Bitcoin's price fell below $64,000 after failing to maintain Monday's advance above $65,000. It was trading at around $63,993 and declined by approximately 1.8% in the session.

Ether's price also dropped below $1,900, while XRP hovered close to $1 and took a hit. Losses across major altcoins reflected Bitcoin's reversal and cautious market sentiment.

The US inflation data release is highly anticipated this week, with Wednesday's CPI report being the largest market-moving release. A decline in inflation might favor stocks, gold, and crypto, while better data may boost Treasury yields and strain risk assets.