- Cryptocurrency News Today: Bitcoin, Ethereum, and XRP Stuck Below Major Supply Levels Ahead of U.S. Inflation Report

Cryptocurrency prices experience sharp fluctuations on Tuesday due to increasing market pressures, with traders awaiting the release of U.S. April inflation data. Bitcoin (BTC) remains below the $81,000 level, with support held at $80,000 as of this report.

It appears that altcoins, including Ethereum (ETH) and Ripple (XRP), are heading downward just like Bitcoin, with Ethereum trading below $2,300, while Ripple is trading above the key level of $1.45.

Market Sentiment Stabilizes Ahead of U.S. Consumer Price Index Report
The U.S. Bureau of Labor Statistics is expected to release the April Consumer Price Index (CPI) report on Tuesday. This index is the primary measure of inflation in the United States, tracking the average change in prices for goods and services, including food, housing, and transportation, over time.

The CPI for March rose more than expected, with core inflation reaching 3.3% year-over-year, compared to 2.4% in February for the same period. Excluding volatile food and energy prices, the core CPI increased to 2.6% annually in March, up from 2.5% previously. Markets expect the CPI to rise by 3.7% year-over-year in April, with the core index projected at 2.7%.

Lower inflation data could boost optimism about the Federal Reserve cutting interest rates in 2026. However, rising tensions between the U.S. and Iran in the Middle East have led to a global increase in oil prices, significantly raising the likelihood of inflation exceeding expectations.

Turning to risk appetite, market sentiment remains stable, as indicated by the Crypto Fear & Greed Index rising to 49 in the fear zone on Tuesday, up from 48 the previous day.

Crypto Fear & Greed Index | Source: Alternative

Spot Bitcoin ETF funds experienced modest inflows of about $27 million on Monday, ending a two-day decline, according to SoSoValue data. Total cumulative inflows now stand at $59.37 billion, with an average net asset value of $109.08 billion.

Bitcoin ETF Inflows | Source: SoSoValue

Ethereum spot ETFs continued to face significant pressure, with outflows of around $17 million on Monday. Although Friday saw some improvement with $3.57 million in inflows, this was a slight rebound compared to the large outflows of $104 million on Thursday.

Ethereum ETF Inflows | Source: SoSoValue

Institutional investments in XRP digital products saw notable growth, with inflows of $26 million on Monday, compared to about $6 million on Friday. Total inflows currently amount to $1.35 billion, with an average net asset value of $1.18 billion.

XRP ETF Inflows | Source: SoSoValue
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