Bitcoin Recovers Above $64,000 as Markets Brace for U.S. Inflation Data

The volatility followed a significant contraction in derivatives exposure, with cumulative long and short positioning dropping by approximately $174 million. CoinGlass data indicates that liquidations were evenly split between buyers and sellers, totaling $32.73 million and $30.81 million in Bitcoin-specific losses, respectively. This reset occurred alongside wider market caution driven by geopolitical tensions and concerns over sticky inflation.

Technically, Bitcoin remains in a consolidation phase. On the 4-hour chart, the asset is struggling to reclaim the 20-period middle Bollinger Band at $64,394. Analysts point to $64,400 and $65,500 as the primary hurdles for bulls, while the $62,000–$62,500 zone serves as the next major line of defense if the upcoming inflation data surprises to the upside. Economists surveyed by Reuters project a 0.1% monthly increase in headline CPI, an outcome that could dictate whether the Federal Reserve maintains current interest rates or pivots toward further tightening.