Market focus is quickly turning to the US CPI report coming up this week. A higher-than-expected figure might weigh on risk assets like Bitcoin and Ethereum, keeping the former in rangebound mode and the latter fighting for a handle above $4,000.
Ethereum is consolidating just above the $4,150 level after a sharp rally. The recent higher highs and higher lows keep the short-term bias bullish, but a sustained move below $4,100 could indicate shifting momentum.
Bitcoin is testing resistance at $119,000 after a solid recovery from below $113,000. The price remains inside a broader range between $116,000 and $123,000, with repeated upper wicks signalling sellers defending the top of the range.
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