Bitcoin dips to about $63,740 ahead of US inflation report
Business
Bitcoin slipped to $63,200 before bouncing back a bit, now sitting around $63,739.55. That's a small dip over the past day and week.
With the US inflation report coming up and oil prices rising, everyone's on edge about what the Federal Reserve might do next, so confidence is pretty shaky right now.
Analysts say $64,300 breakout needed
Analysts say Bitcoin needs to break above $64,300 to see any real gains; otherwise, if it drops below $63,200 again, it could slide further toward $62,400.
crypto liquidations have dropped as traders play it safer.
The overall crypto market cap is steady at $2.19 trillion, but the Fear and Greed Index shows "Fear," so experts suggest taking it slow with smaller investments until things look more stable.