Bitcoin Holds Steady Near $62,500 Amid Geopolitical Tensions and US Inflation Fears

Bitcoin is trading near $62,500 as investors remain cautious ahead of the US Consumer Price Index (CPI) report. The cryptocurrency market is also being affected by rising geopolitical tensions in the Strait of Hormuz.

The world's largest cryptocurrency has seen a 0.80% decline in the past 24 hours, according to CoinMarketCap data.

Analysts noted that while investors are cautious, on-chain data shows long-term Bitcoin holders accumulating 5,912 BTC over the past two days, reflecting continued confidence despite near-term macroeconomic and geopolitical risks.

Binance Coin (BNB) was priced around $569.32, while Solana (SOL) traded near $74.87. XRP hovered around $1.06, and Dogecoin (DOGE) was trading close to $0.072.