Crypto Markets Consolidate Ahead of CPI Report

Crypto markets are in a cautious trading environment ahead of the release of the Consumer Price Index (CPI) report from the US Bureau of Labor Statistics on Wednesday. The report is expected to show a small decline in consumer inflation and core inflation, with monthly CPI predicted to rise by 0.1%, compared to a 0.4% increase in June.

Market sentiment remains subdued, with the Fear & Greed Index at 27, down from 29 the day before. This indicates that risk appetite is significantly low, making it less likely for a sustained recovery in crypto markets.

BTC/USDT is trading near $64,000 and remains capped by the 50-day Exponential Moving Average (EMA) at $64,584 and the 100-day EMA at $66,723. The pair still trades above the upward-sloping support trendline around $63,458.

Ethereum is holding above the 50-day EMA but remains capped by the 100-day EMA at $1,924. XRP is struggling to gain momentum and holds below clear downside pressure from the Bollinger middle boundary at roughly $1.06 and the 50-day EMA at about $1.09.