Why are crypto prices going down today?

Crypto prices moved lower on Tuesday as investors reduced risk before United States inflation data. The global market value fell 1.57% within 24 hours, reaching $2.18 trillion.

Bitcoin price dropped below $64,000 after failing to maintain Monday’s advance above $65,000. The BTC price was trading at around 63,993 and it fell by approximately 1.8 per cent in the session.

Ether price also fell below $1,900, whereas XRP price hovered close to $1 and was battered down. Losses across major altcoins reflected Bitcoin’s reversal and cautious market sentiment.

Crypto Prices Fall Ahead of US Inflation Data

Other crypto prices like SOL, DOGE, BNB, and Cardano have seen a slight correction over the past 24-hours after a week of recovery.

Key US crypto market events this week include Wednesday’s CPI report and Thursday’s PPI, jobless claims, and two Fed speeches. Retail sales and consumer sentiment data are released on Friday, and core CPI is the largest market-moving release. 

Key Events This Week:

1. July Existing Home Sales data – Tuesday

2. OPEC Monthly Report – Wednesday

3. July CPI Inflation data – Wednesday

4. July PPI Inflation data – Thursday

5. July Retail Sales data – Friday

6. August MI Consumer Sentiment data – Friday

It’s a big week…

— The Kobeissi Letter (@KobeissiLetter) August 9, 2026