Crypto Market Looks Towards US CPI as Inflation Slows
The crypto market was on the mend on Aug 12, 2026, as the inflation reading for July US Consumer Price Index (CPI) came in at 3.4% vs the 3.5% reading for June. Investor optimism was justified as the softer inflation reading helped cryptos such as Ethereum (ETH) and Dogecoin (DOGE) post gains. By contrast some assets remained sell side including Uniswap (UNI), which tumbled 10%.
The new inflation data could see the Federal Reserve take a more accommodative view on interest rate policy in the September FOMC meeting. Slackening inflation calls for a pause on rate hikes, which should be supportive of risk assets such as cryptos.
Ethereum and Dogecoin Lead Top Crypto Gainers
Ethereum (ETH) was one of the star performers from the top crypto assets on market cap. At the time of writing, ETH price was up 0.87% at around $1,907. The second largest crypto continued to attract interest as investors kept an eye on the inflation trend and the potential for a shift in the Federal Reserve’s policy.
Dogecoin (DOGE) also saw positive price movement with gains of 1.78% with price around $0.071. The meme crypto took advantage of market sentiment while derivatives shown strong participation.
According to data from CoinMarketCap, most of the top ten crypto assets by market were in positive movements with the exception of Bitcoin (BTC). Bitcoin price was around $64,190 and was down 0.22%.
Crypto Market Data Overview August 12, 2026
Crypto Market Data Overview August 12, 2026
| Market Metric | Data |
|---|---|
| Total Crypto Market Cap | $2.2 Trillion (+0.03%) |
| 24-Hour Trading Volume | $55.45 Billion |
| Bitcoin Price | $64,190 (-0.22%) |
| Ethereum Price | $1,915 (+1.26%) |
| XRP Price | $1.02 (+1.39%) |
| Bitcoin Dominance | 58.6% |
| Ethereum Dominance | 10.5% |
| Altcoin Season Index | 41/100 |
| Fear and Greed Index | 27 (Fear) |
The overall market remains responsible representative price movements, as the Fear and Greed Index showed a reading of 27, indicating that investors were still operating in a fear-driven environment
What the July 2022 CPI Report Means for the Feds and the Market
Rising prices have eased slightly and put pressure on the FOMC’s next future policy decision.
Based on prediction market data, 62% of traders believe the FOMC will keep rates steady during the September FOMC meeting at the 3.50 to 3.75 percent range.
Expectations have calmed in inflation, which also means the FED has reached its peak in inflation hikes, giving investors more confidence in the market. Also, more geopolitical peace has calmed the markets, ranging from talks resuming between Iran and Oman to help open Hormuz strait, to reports that progress may be made on a ceasefire between Iran and the U.S.
There is a near certainty, at 99%, that a ceasefire agreement will be announced before August 31.
Crypto Derivatives Open Interest, Up Trending, Still Low
Open interest in crypto derivatives markets may be increasing, but healthy amounts are still far from being reached. Crypto derivatives trading activity climbed 0.66% on August 12 and stood at $116.23bn. Transacted open interest for Bitcoin came in at approximately $47bn, while open interest for Ethereum stood at $25bn.
Futures traded volume for crypto assets stood at $138bn, compared to the $148bn volume for August 11. Long positions remained dominant. The funding rate for Bitcoin was at 0.0066% while the funding rate for Ethereum stood at 0.0040%.
Crypto liquidations amounted to $187 million and affected 78,930 traders. Long liquidations accounted for $122 million, while short liquidations stood at $64 million.
Ethereum price has continued to capture the interest of accumulating investors before the scheduled release of key economic data. Analyzing the data, it shows that Funds accumulate ETH at much greater levels than usual in spot markets, which has caused concern among investors.
Taking a technical approach, Ethereum has tested the 100 day EMA at $1,922. A move past this level will pull ETH toward $2,138, the 200 day EMA. Dogecoin saw a spike in participation in the markets as volume for derivatives trading reached $1.24 billion, a jump by 99%.
Open interest for DOGE also saw a jump of 6.6% indicating a strong position taken by traders. This long/short ratio of 0.95 means that there are more short positions than long positions.
Dogecoin is still trading inside a falling wedge pattern. If Dogecoin breaks above resistance at the $0.070 area, then we could see a move towards $0.077. However, if Dogecoin cannot hold support, DOGE could drop to the $0.068 level.
Uniswap Price Crashes 10% Amid Selling Pressure
While Ethereum and Dogecoin went up, Uniswap (UNI) was one of the worst performers in the market. UNI’s price dropped about 10% to $3.54 due to selling pressure.
Looking at the technical analysis, the price of UNI is dropping and bearish. The RSI is currently around 40, indicating potential for selling. The MACD also shows that price could continue to go down.
If sellers continue to take control, then the price of UNI could drop to $3.00. However if buying pressure starts to increase along with the market becoming more positive, UNI could start going up.
Crypto Market Outlook: Investors Watch Fed Decision
Currently, there is a market sentiment of “sell on rallies” due to the Fed and U.S inflation expectations. Cooling inflation in the U.S has improved the market outlook for Ethereum and Dogecoin. In contrast, Uniswap is still suffering from selling pressure.
Moving forward traders will focus on Ethereum’s resistance breakout, Dogecoin’s pattern, and the Federal Reserve’s rhetoric. The expectation of stable interest rates should help cryptocurrencies. However market volatility will still be high.
