As investors anticipated US inflation statistics, Bitcoin saw a tiny recovery to $97,434, while XRP saw a boost following Ripple's stablecoin clearance in New York. The value of the cryptocurrency market fell a little as people became more cautious.

Prior to important U.S. inflation data later in the day, which is anticipated to shed light on future rate trends, bitcoin traded somewhat higher on Tuesday at $97,434, although it was still down more than $6,400 from its peak of $103,900 last week.

Ethereum dropped 1.1% to $3,664 at 10:46 a.m. IST, while Bitcoin was up 0.8% at $97,434. Bitcoin hit a top of $98,270 and a low of $94,321 throughout the session.

The U.S. Consumer Price Index (CPI), which is anticipated to have increased by 0.3% in November, is the focus of investors' attention. Expectations regarding the Fed's 2025 policies may be influenced by the statistics.

90% of economists surveyed by Reuters believe the Fed will lower rates by 25 basis points on December 18. The majority of them anticipate a pause in late January due to inflationary worries.

Giottus CEO Vikram Subburaj stated that after almost $1.7 billion in holdings were liquidated yesterday, bitcoin saw a significant decline to $94,300. As the US CPI data is released tomorrow, the asset is still erratic and below its crucial resistance level of $98,500.

The CEO of Mudrex, Edul Patel, stated that bitcoin is on a solid upward trajectory and has recovered from the support levels around $94k. With a current price of $97,200, Bitcoin is gaining strength to hold at the $100k mark. With all eyes on the CPI figures, investors continue to exercise caution.

On the geopolitical front, the South Korean police stormed the presidential office over martial law, according to the Yonhap news agency, while the Israeli military claimed to have attacked two Syrian navy installations and the majority of Syria's strategic weapons stores.