Crypto Market Reacts to Softer US Inflation Rate

The crypto market showed a mixed reaction to the latest US inflation report on August 12. The Consumer Price Index (CPI) fell to 3.4% in July from 3.5% in June, matching market expectations.

Bitcoin slipped below $65,000 despite the lower inflation rate, while Ethereum and Dogecoin gained ground. Uniswap, however, dropped around 10% due to heavy selling pressure.

The softer inflation reading eased some concerns about another Federal Reserve rate hike, but traders remain cautious. The Fear & Greed Index at 27 shows that fear continues to dominate investor sentiment.