Bitcoin Stays Flat Near $62,800 Amid Inflation Fears and Geopolitical Tensions

Bitcoin's price is hovering around $62,800 as investors await key inflation data and geopolitical tensions between the U.S. and Iran. Rising oil prices due to Iran Strait of Hormuz tensions could increase inflation fears, putting pressure on Bitcoin and other risk assets. The upcoming Consumer Price Index (CPI) and Producer Price Index (PPI) data will influence Federal Reserve rate expectations, impacting crypto markets.

The release of retail sales, consumer sentiment, and corporate earnings from major banks will also shape market sentiment. Meanwhile, Bitcoin ETF inflows are providing some support to the market but have yet to push prices above $65,000.