Crypto Prices Consolidate Ahead of US Inflation Data Release

Cryptocurrency prices are largely consolidating, with Bitcoin (BTC) hovering near the $64,000 resistance level. Ethereum (ETH), on the other hand, shows signs of recovery but remains below the $1,900 hurdle.

Ripple (XRP) is struggling to gain momentum and hovers above the critical $1.00 support level.

Market participants expect a small decline in consumer inflation and core inflation ahead of the Consumer Price Index (CPI) report release on Wednesday.

The crypto market sentiment remains subdued, with the Fear & Greed Index at 27, indicating risk appetite is significantly capped.

Technical analysis shows that Bitcoin trades below its 50-day Exponential Moving Average (EMA), while Ethereum is held back by the 100-day EMA. Ripple's spot price is well beneath the 100-day and 200-day EMAs, underscoring a broader downtrend.