Bitcoin slips below $64,000 ahead of Wednesday's CPI report

Bitcoin slipped below $64,000 in early Tuesday trading, extending a cautious run after spending much of last week above that level. Ether held little changed near its recent range. Traders are positioning ahead of Wednesday's US Consumer Price Index report, due at 8:30am Eastern time, the last major inflation data before the Federal Reserve's next policy decision. Economists polled by Reuters expect headline inflation to ease to 3.4 percent annually and core inflation to slow to 2.5 percent, both down from June.

The pullback follows a rally built on a much weaker July jobs report than forecast, which had lifted expectations for a September rate cut and pushed bitcoin back above $65,000 as recently as Monday.

A market camped just under $64,000 the day before a single data print is one still trading the Fed's next move rather than any conviction of its own.