Bitcoin (BTC) Price Dips Below $62K Ahead of U.S. Inflation Figures

Jamie Crawley

Bitcoin fell below $62,000 during the European morning on Tuesday, losing about 1.63% over 24 hours. The CoinDesk 20 Index (CD20), a broad measurement of the digital asset market as a whole, fell almost 1.1%. Ether declined more than 2% to just above $2,900, while solana was largely unchanged at $145. In the next 24 hours, attention will turn to inflation reports out of the U.S. The latest Producer Price Index (PPI) is set for release at 08:30 ET today and the Consumer Price Index (CPI) is due tomorrow. Stubbornly high inflation has previously put paid to hopes of rate cuts in the U.S., which can have the effect of a handbrake on risk assets such as crypto.

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