Bitcoin under pressure below $64,300; why crypto markets remain cautious

Investors should avoid chasing short-term moves before the inflation release. Staggered accumulation, limited leverage, and disciplined position sizing remain preferable.

• Bitcoin price dropped near $63,200, then recovered.
• Crypto markets cautious ahead of US CPI release.
• Macro uncertainty impacts market sentiment.

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Bitcoin price dropped near $63,200 in the early August 12 trade, but recovered some of those losses to trade at $63,739.55 (09:43 IST), down 0.50 percent over the last 24 hours and 0.53 percent in a week.

Crypto markets remain cautious ahead of the US CPI release amid continued macro uncertainty dominating the market sentiment. Higher crude oil prices, elevated Treasury yields, and uncertainty around the Federal Reserve’s next move are keeping risk appetite subdued, while recent ETF demand has also become less consistent after strong inflows last week.

"Technically, Bitcoin is attempting to stabilize after testing the $63,200 area, but the short-term structure remains weak while price stays below the $64,180–$64,300 EMA cluster. A sustained move above $64,300 could open the way toward $64,800–$65,200, while a break below $63,200 may expose the $62,400–$63,000 demand zone," Riya Sehgal, Research Analyst, Delta Exchange, said.