Cryptocurrency prices are largely consolidating, with Bitcoin (BTC) hovering near the resistance at $64,000 at the time of writing on Wednesday. Ethereum (ETH) shows signs of recovery but remains below the $1,900 hurdle, while Ripple (XRP) hovers above the critical $1.00 support and is struggling to gain momentum.

Crypto sentiment lags ahead of CPI data release

The United States (US) Bureau of Labor Statistics (BLS) is expected to release the much-anticipated Consumer Price Index (CPI) report on Wednesday amid a cautious trading environment.

Market participants expect a small decline in consumer inflation and core inflation, with monthly CPI predicted to rise by 0.1%, against a backdrop of a 0.4% increase in June. Meanwhile, annual…