Crypto Today: Bitcoin, Ethereum, XRP Remain Under Pressure as Focus Shifts to US Inflation Data

BitcoinWorld Crypto Today: Bitcoin, Ethereum, XRP Remain Under Pressure as Focus Shifts to US Inflation Data Cryptocurrency prices are largely consolidating, with Bitcoin (BTC) hovering near the resistance at $64,000 at the time of writing on Wednesday, while Ethereum (ETH) and XRP also stay under pressure as traders shift their focus to upcoming US inflation data.

Market Consolidation Ahead of Inflation Data The crypto market is experiencing a period of low volatility as investors await the release of the latest US Consumer Price Index (CPI) figures, scheduled for later this week.

The data is expected to provide fresh clues about the Federal Reserve’s monetary policy trajectory, which has a significant impact on risk assets like cryptocurrencies. Bitcoin’s inability to break above the $64,000 resistance level suggests a cautious sentiment among traders.

Ethereum and XRP are also trading in narrow ranges, reflecting the broader market’s wait-and-see approach. According to data from CoinGecko, the total crypto market cap has remained relatively flat over the past 24 hours, indicating a lack of directional momentum.