Crypto Market Range-Bound Ahead of US Inflation Data Release
The crypto market has been range-bound on August 10 as Bitcoin (BTC) and Ethereum (ETH) struggle to make significant gains. However, Solana (SOL) has bucked this trend, reaching its highest price since July 27 at $77 ahead of the US inflation data release on August 12.
The lack of meaningful gains across the market comes as investors await the release of the US CPI print. Analysts expect inflation to drop from 3.5% in June 2026 to 3.4% in July 2026, according to MarketWatch. This has led to a wait-and-see approach by traders, with all top ten cryptos registering minimal gains or losses of less than 1%.
Easing geopolitical tensions are also having a positive impact on the market, helping Bitcoin and Ethereum defend support levels at $64,500 and $1,900 respectively. Rising institutional demand is another factor contributing to the slight gains seen in the crypto market today.