Bitcoin Falls 2% to $64,096.86 Before US CPI

Bitcoin’s decline left it below its 50-day moving average at $63,334.60 and still well under its 200-day average near $70,003.12, a sign that the market’s rebound has not fully repaired the damage from earlier in the year. The 14-day RSI at 52.8 suggests momentum is neither overbought nor oversold, but the broader technical picture remains fragile after Bitcoin dropped from above $81,000 in mid-May. Ethereum fell 1.6% to $1,877.73, XRP slipped 1% to $1.02 and Dogecoin also weakened, underscoring that the cautious tone was broad-based rather than idiosyncratic.

The setup reflects how crypto now trades as a high-beta macro asset when the market is waiting on inflation. A cooler CPI reading would likely ease pressure on the dollar and could help revive flows into risk assets, including exchange-traded funds and crypto-linked names. A firmer report would do the opposite, tightening financial conditions just as investors are already watching whether the Federal Reserve can justify any near-term easing.

Adalytica’s CPI gauge showed sentiment at 48, or neutral, but awareness at 100, indicating the market is fully focused on the inflation print. That matters for Bitcoin because the token’s strongest rallies have tended to coincide with falling real yields and expectations that the Fed is moving toward easier policy. The opposite environment has typically forced investors to trim exposure first in the most speculative corners of the market.

For now, the market is in wait-and-see mode: crypto bulls are hoping the data confirms disinflation and brings rate-cut bets back into play, while bears see another chance for the Fed to stay restrictive longer. The next inflation release could decide which camp has the upper hand.